A new ₺100 million fund from Kultepe Investment for startups: Kultepe Venture Capital Investment Fund

Founded by 20 business people from Kayseri to invest in startups, Kultepe Investment has invested in 12 startups in the last two years. In this process, more than 1400 enterprises were scanned and second-stage interviews were held with approximately 500 enterprises.

6 of the companies in the portfolio proved themselves by taking their follow-up investments in a short time like one year. Kultepe Investment, which represents the new generation technology investment in Kayseri and Anatolia; activated the venture capital investment fund to invest in technology startups and its first investors joined the fund.

The studies for the establishment of the “Kultepe Venture Capital Investment Fund” between Kultepe Investment Inc. and Istanbul Portfolio Management Inc. and the CMB activity approval were completed in September.

Kultepe GDP, which is targeted to exceed ₺100 million; will invest in technology companies that have passed the idea stage and have the ability to generate revenue. The fund aims to invest in 15 start-up companies that have the potential to operate globally and grow in the next 4 years.

Ibrahim Ulukaya, Chairman of the Board of Directors of Kultepe Investment, said: “After Kultepe Investment, we aim for the Kultepe GDP, which is a new beginning for Kayseri and Anatolia, to exceed ₺100 million. As fund managers and partners, we also take responsibility and provide ₺20 million of resources to our fund. We will invest in technology-based companies regardless of sector.

We expand our existing structure with the experience and momentum we gained at Kultepe Investment, and bring all our investors together with the new-generation technology investment in a transparent manner with the approval of the CMB. We believe in the power of Anatolian capital. We set out with the aim of making this fund a legacy and pioneer for Kayseri and Anatolia in the future. We are aware that our responsibility is great. A strong generation is coming, which is open to innovation and adapts quickly to technology. As a fund, we will strive to ensure that Turkiye has a say in technology by providing resources to innovative initiatives.

We aim to turn some of the traditional investments into technology investments and we are happy to lead this. As with our previous investments, we will continue to invest in technology-focused startups with global growth potential.”

Source: Egirisim / Translated by Irem Yildiz

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