BAKU, Azerbaijan, April 30. The European Bank
for Reconstruction and Development (EBRD) is investing $15 million
in Revo Capital Fund III, a venture capital fund focused on
supporting early-stage technology companies in Türkiye and Central
and Eastern Europe, Trend reports.
The fund will target investments in sectors such as B2B SaaS,
fintech, cloud operations, security, health IT, energy, and
gaming.
This investment aims to help companies with Turkish founders or
R&D teams in Türkiye enhance their competitiveness, fostering
the development of innovative technologies and business models. The
EBRD has been an investor in Revo Capital since 2015, when it
became the first international investor in Revo Capital Fund I, and
continued its support as a cornerstone investor in Fund II in
2019.
The latest investment is part of the EBRD’s Early-Stage
Innovation Facility II, which funds venture capital projects across
its regions of operation, improving capital availability for
innovative startups. Michael Parry, Head of Venture Funds at the
EBRD, emphasized that backing such funds helps build global
competitiveness and resilience in emerging economies.
Cenk Bayrakdar, Founding Partner of Revo Capital, expressed
gratitude for the EBRD’s continued support, highlighting its key
role in helping Turkish startups scale globally and drive systemic
change in the region.
Since 2009, the EBRD has invested over 20 billion euros in
Türkiye, primarily in the private sector through 478 projects and
trade finance initiatives.
