Turkey Investment Fund Signing Ceremony was held at TEPAV The fund will finance early stage investment venture capital funds.  

ANKARA- The signing ceremony of Turkey Investment Fund established jointly by TOBB and the Turkish Treasury was held at TEPAV.

TOBB President Rifat Hisarcıklıoğlu said during his speech that Turkey Investment Fund will finance early stage investment venture capital funds. These venture capital funds will in turn provide funding for digital entrepreneurs.

"Turkey Investment Fund is the first new generation support model for innovative companies and the digital economy in our country. We believe that companies to receive support should no longer be determined by the state bureaucrats. The public sector should utilize its resources to cultivate the Internet ecosystem. Venture capital funds should instead identify the best companies within this ecosystem and allocate resources. Venture capitalists should not only support the companies they invest in with monetary funds but also provide mentoring and new connections.

The initiatives to set up the Fund started in 2011 with the first step taken by TOBB Young Entrepreneurs Council and TOBB Venture Capital Sector Assembly.

We have achieved a difficult goal over 5 years with the support of our Undersecretariat of Treasury. The necessary legislation for this new generation of support has come into effect and today we are signing the final agreement,” Hisarcıklıoğlu said.

Turkey Investment Fund

The initial volume of the fund will be 150mnTurkish lira. TOBB will be providing 100mn lira of this figure, while 50mn lira will be provided by the Treasury. The Turkey Investment Fund will invest in SMEs with the potential to develop innovative technologies, products and services bound to create higher added value for the Turkish economy over the next decade.