Venture Capital in Turkey
Every venture capital record the directory holds in Turkey.
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500 Istanbul
500 Istanbul is an Istanbul-based early-stage venture capital fund established in 2016 by Enis Hulli and Rina Onur Şirinoğlu in partnership with 500 Global, operating as a distinct fund entity focused on Turkey and Emerging Europe. The fund raised a €30M Fund II and later evolved into 500 Emerging Europe, targeting a €70M raise for the broader CEE and Baltics region. Its portfolio of 37+ companies includes three unicorns — Insider, BillionToOne, and Carbon Health — with portfolio companies collectively generating over $600M in annual revenue and attracting $1.1B in follow-on funding. The fund backs pre-seed to seed-stage startups with typical cheques from €200K to €3M.
Bek Ventures
Bek Ventures is an early-stage venture capital firm backing exceptional founders with roots in Europe, with a particular focus on Central and Eastern Europe and Turkey. Founded in 2013 as the Earlybird Digital East Fund and rebranded to Bek Ventures in late 2024, the firm manages roughly $600 million across its funds, including a $250 million Fund III closed in 2024. Led by managing partner Cem Sertoglu and with offices in Istanbul, London, and New York, the Turkish-founded team has generated billions of dollars in returns over the past decade and is associated with one of the greatest venture investments in European history. Bek Ventures backs technical founders building global category leaders, with around half of its portfolio companies operating from the United States.
Diffusion Capital Partners
Diffusion Capital Partners (DCP) is Istanbul's leading deep-tech focused venture capital fund manager, with a team that began operations in 2007 and the fund formally established in 2015. DCP closed its first fund at €37M and launched a second fund targeting €35M, backing startups in BioTech, AgroTech, CleanTech, Robotics, Material Science, and Nanotechnology across Turkey and the broader region. The firm has made over 44 investments, primarily at Seed and early Series A stages with initial tickets typically below €500K. DCP's cumulative team experience spans over 70 years in high-tech sectors, offering portfolio companies business development, legal, and operational support alongside capital.
Esas Ventures
Esas Ventures is the venture capital arm of Esas Holding, Turkey's largest family-owned investment group backed by the Şevket Sabancı family, founders of the Sabancı Holding conglomerate. Founded in 2018 and operating from Istanbul with a London presence, the fund has built a portfolio of 38+ companies including four unicorns, with Getir, Deel, and Misfits Market among its most notable exits and holdings. The firm invests primarily at Seed and Series A stages in B2B SaaS, marketplaces, and consumer tech, with a global mandate spanning Turkey, the US, and Europe. Esas Ventures backed Insider through its $500M Series E led by General Atlantic, underscoring its capacity for large follow-on rounds.
Re-Pie Asset Management
Re-Pie is Turkey's first and largest alternative portfolio management company, established in 2015 under a Capital Markets Board licence and managing assets worth over 73.5 billion TL across 41 venture capital, 36 real estate, and 13 securities investment funds. Its venture capital arm backs Seed to Series A technology companies with cheques of $1M–$10M, with a notable portfolio including Getir, Hepsiburada, ikas, Modanisa, Colendi, and Ace Games. Re-Pie combines financial structuring expertise from its broader asset management platform with active strategic and operational support for portfolio companies. The firm is headquartered in Istanbul and is regulated by Turkey's CMB.
Revo Capital
Revo Capital is Turkey's largest technology-focused venture capital firm, founded in 2013 by Cenk Bayrakdar and Berkin Toktaş, having raised over $250M across three funds. Fund II closed at a landmark €90M in 2021 — oversubscribed with backing from IFC, EBRD, EIF, DEG, and the Turkish Development and Investment Bank — and Fund III reached an $86M first close in 2024 targeting over $100M. The firm has invested in 48 startups across Turkey, Eastern Europe, and the Baltics, achieving 18 exits and producing unicorns Getir and Builder.ai; portfolio companies have attracted $3.5B in follow-on capital between 2021 and 2025. Revo concentrates on early-stage B2B and B2C ventures in fintech, SaaS, cybersecurity, health tech, AI, and gaming.
