One of Turkey’s largest venture capital funds, Revo Capital, hosted its fourth annual Revo Building Bridges event, which brought together over 600 leading investors, entrepreneurs, and businesspeople from Turkey and Europe.
The event commenced with an opening speech by Cenk Bayrakdar, Co-Founder and Managing Director of Revo Capital. Bayrakdar highlighted, “Over the past four years, the technology companies we’ve invested in through our $100 million second fund, with 92% of funding from foreign investors, have collectively received $2.9 billion in investments. With our third fund, we will continue contributing to the Turkish economy.”
Providing insights into the third fund, Cenk Bayrakdar added, “As Revo Capital, we were among the first investors of Getir, which is currently one of Turkey’s most valuable companies, back in 2017. Other investments we made, such as Param, Midas, ikas, Massive Bio, and Akinon, have also become leaders in their sectors in Turkey. We are establishing our third fund of $100 million to continue our successful investment strategy of the past ten years. We aim to allocate 80% of our investments within Turkey while exploring investment opportunities in Eastern European regions, as we’ve done with our previous funds. We aim to fill the investment gap crucial for growth-stage entrepreneurs in Turkey. Our fund will strategically invest in companies with R&D and developer presence in Turkey, operating across six core sectors: Fintech, B2B SaaS, cybersecurity, health technologies, energy, and gaming. We are particularly interested in artificial intelligence technologies and believe in their potential as catalysts for innovation across all sectors.”
Additionally, a presentation by McKinsey & Company during the event shared forecasts indicating that by 2030, 70% of companies will utilize artificial intelligence, leading to an additional $13 trillion increase in economic activities.
