- EBRD invests in Revo Capital Fund III, supporting venture capital in Türkiye
- Project continues partnership between EBRD and Revo Capital
- Investment comes under the EBRD’s Early-Stage Innovation Facility
The European Bank for Reconstruction and Development (EBRD) is investing US$ 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.
The fund will concentrate on investments primarily in B2B SaaS (business-to-business software as a service), fintech, cloud operations and security, health information technology (IT), energy and gaming. Investing in such innovative, early-stage companies with
Turkish founders and/or with research and development (R&D) teams based in Türkiye helps them to become more competitive, which in turn enables the development of cutting-edge technologies and digitally enabled business models.
The EBRD has been an investor with Revo Capital since 2015 when it became the first international investor in Revo Capital Fund I. It was also a cornerstone investor in Revo Capital Fund II in 2019.
This latest investment is part of the Bank’s Early-Stage Innovation Facility II, a framework through which the EBRD invests in venture capital funds across its countries of operation, expanding the availability of capital and support for innovative early-stage companies.
Michael Parry, Head of Venture Funds at the EBRD, said: “Backing funds that invest in early-stage technology companies is not just about fuelling innovation. It’s also about building the resilience and global competitiveness of entire economies. By empowering these companies at their most critical phase, we lay the foundation for future industries, jobs and growth. We are very happy to continue our partnership with Revo Capital.”
Cenk Bayrakdar, Founding Partner and Managing Director at Revo Capital, commented: “We are deeply grateful for the EBRD’s unwavering partnership, which has spanned more a decade and all three of our funds. Its continued support has been instrumental in enabling Revo Capital to build Türkiye’s pioneering and largest venture capital fund – empowering both Turkish founders and startups with critical R&D functions in Türkiye to scale globally, while catalysing systemic change across our entrepreneurial ecosystem. At Revo, this journey goes beyond capital deployment; it’s about championing innovation, resilience and long-term value creation in the region. We are proud to continue this mission alongside the EBRD.”
The EBRD is among Türkiye’s key investors, with more than €20 billion committed through 478 projects and trade finance limits since 2009, most of which is in the private sector.