UNLU Portfolio Chairman Utku Ozay said, “We think that the new law is very valuable in terms of the support it provides to the entrepreneurship ecosystem, which has shown a strong growth in Turkiye in recent years.”
UNLU Portfolio, a subsidiary of the investment services and wealth management group UNLU & Co, established the third Venture Capital Fund, UNLU Portfolio R&D Venture Capital Fund (UNLU R&D Fund).
According to the statement made by UNLU & Co, the UNLU Portfolio R&D Venture Capital Fund, which is expected to reach a size of approximately ₺200 million, aims to invest in approximately 20 venture companies with an average size of ₺5 to ₺10 million in the next 5 years.
The fund was established to meet the investment obligations of technology companies that benefit from R&D and design incentives and whose exemption earnings or discount amounts are ₺1 million or more.
UNLU & Co’s experienced team in alternative investments, which has been playing an active role in the Turkish entrepreneurship ecosystem since 2012, will primarily focus on early-stage FinTech, B2B SaaS technologies, big data, artificial intelligence, and internet of things. Additionally, it will evaluate joint investment opportunities with other experienced Venture Capital Funds (VC Funds).
Utku Ozay, Chairman of the Board of UNLU Portfolio, whose evaluations were included in the statement, said:
‘We think that the new law is very valuable in terms of the support it provides to the entrepreneurship ecosystem, which has shown a strong growth in Turkiye in recent years. We aim for UNLU R&D Fund, our third venture capital fund, to generate attractive returns through professional risk management and experienced investment team, in addition to the advantages provided by the legislation. At the same time, we believe that we will contribute to the goal of creating new ‘Turcorns’ from our technology companies with our fund. UNLU & Co has invested over $210 million in alternative assets since its establishment. In addition, we have been operating as an investor through funds in the Venture Capital ecosystem since 2012.’
Source: AA / Translated by Irem Yildiz