TT Ventures, a venture capital affiliate of Türkiye’s leading information and communication technologies company Türk Telekom, continues its activities with an aim to contribute to the growth of the entrepreneurial ecosystem in the country.
The company has reached an agreement with Istanbul Portfolio Management to set up the "TT Ventures Venture Capital Investment Fund," which has been approved by Türkiye’s Capital Markets Board (SPK).
Muhammed Özhan, general manager of TT Ventures, stressed their continuous efforts to open the doors of growth for startups and to carry Türkiye into the future by expanding the entrepreneurial ecosystem.
"In this direction, we have launched the TT Ventures Venture Capital Investment Fund, in which Türk Telekom Group will also be one of the investors. We think that our fund, which is aimed especially at the participation of locals and foreigners, is very important for the Turkish venture ecosystem. We aim to invest in technology-oriented startups with high growth potential," Özhan noted.
"In addition, we aim to provide strategic and financial benefits to the fund’s investors by creating long-term value with the support provided by our group and the momentum that strategic synergy will bring. This fund is the first pillar of our investment strategy, and we aim to reach a global level structure with our new steps in this area in the near future," he added.
Support for more startups
With TT Ventures Venture Capital Investment Fund, TT Ventures, which aims to enrich its investment portfolio, looks to offer an opportunity for greater fundraising from venture capitalists, angel investors, global financial institutions and other investors.
In addition, thanks to the fund, TT Ventures will be able to invest in more startups with flexible investment models.
Established in 2018 as the corporate venture capital company of Türk Telekom, TT Ventures was set up to grow early and mid-stage startups with the support and investment of Türk Telekom and to provide value to the venture ecosystem. It has invested in 13 companies so far.