Istanbul Venture Capital Initiative (iVCi)

Istanbul Venture Capital Initiative (iVCi) specializes in fund of funds investment and direct co-investments.

Istanbul Venture Capital Initiative (iVCi) specializes in fund of funds investment and direct co-investments in small and medium enterprises. It does not invest in arms industry and arms trading, gambling industry, tobacco industry, and human cloning. The fund makes venture capital investments in with first time funds, established funds, experienced funds, and high-growth companies. Though Istanbul Venture Capital Initiative (iVCi) is a generalist program, it is focused on the technology, media, and telecommunications sectors. The final beneficiary of the investment must be a Turkish entity. As such, providing that any commitment made by it into a fund is invested into a Turkish entity, the fund as a whole may undertake investments in other geographies. Up to 50% of the fund can be utilized in direct investments which are structured as co-investments with trusted investors. It invests for a period of four years and extends the time period twice by one year each in certain circumstances. Investors of Though Istanbul Venture Capital Initiative (iVCi) include Small and Medium Enterprises Development Organisation of Turkey, the Technology Development Foundation of Turkey, the Development Bank of Turkey, Garanti Bank, National Bank of Greece Group, and the European Investment Fund. Istanbul Venture Capital Initiative (iVCi) was founded in 2007 and is based in Turkey.