TT Ventures, a venture capital subsidiary of Turkey’s leading information and communication technology company, Türk Telekom, continues its activities with the aim of contributing to the growth of the entrepreneurial ecosystem in the country.
The company has entered into an agreement with Istanbul Portfolio Management to establish the “TT Ventures Venture Capital Investment Fund”, which has been approved by the Capital Markets Board (SPK) of Türkiye.
Muhammed Özhan, Managing Director of TT Ventures, highlighted their continuous efforts to open doors of growth for startups and to carry Türkiye into the future by expanding the entrepreneurial ecosystem.
“In this direction, we have launched the venture capital investment fund TT Ventures, in which the Türk Telekom Group will also be one of the investors. We believe that our fund, which especially targets the participation of locals and foreigners, is very important for the Turkish venture capital ecosystem. Our goal is to invest in technology-driven startups with high growth potential,” Özhan noted.
“Furthermore, we aim to provide strategic and financial benefits to investors in the fund 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 achieve a world-class 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, seeks to provide an opportunity for greater fundraising from venture capitalists, angel investors, global financial institutions and other investors.
Additionally, through the fund, TT Ventures will be able to invest in more startups with flexible investment models.
Founded in 2018 as a venture capital firm of Türk Telekom, TT Ventures was established to develop early-stage and mid-stage startups with the support and investment of Türk Telekom and to bring value to the ecosystem venture capital. He has invested in 13 companies to date.