Partners in growth.

We invest in high-growth scale-ups that are building a competitive advantage.

Flexible Capital

We provide a wide range of investment vehicles for our portfolio – from growth capital to larger single-asset funds.

Strategic Partnership

Our job is not to invest and wait – we get actively involved in transforming our partners into mature businesses.

Clear Principles

We run a concentrated portfolio of businesses we can help.

Thesis

We are more selective than your average VC investor.

That’s because we partner, not just invest.

Perspective

Growing a mature business is a long, tough road. We have been there.

That’s why we also know that there is a large gap for ambitious founders who seek to grow their businesses into mature companies.

In the Turkish market, seed funding is largely available and the exit paths are somewhat open. Growth, on the other hand, may be the least popular investment type.

For the most ambitious, the status quo doesn’t work. That’s why we only partner with them – to deepen their competitive advantage, grow their market share, and expand them to new markets.

Investment Checklist

Picking the most ambitious businesses is easier said than done.

That’s why we make investment decisions by following a clear checklist. We find not only the most promising partners but also seek out companies that we can help.

Expertise

We invest in companies that are in our circle of competence. We don’t invest in businesses that either we don’t understand or we can’t make a contribution to.

Team

We invest in teams with strong track records in understanding customer needs. We look for teams that complement each other in business leadership, market experience and technical expertise. We avoid teams that we would not want to be a part of.

Market

We look for markets that are large enough to make the investment worthwhile. We look for companies that have proven their product’s relevance within a small segment of their addressable market.

Product

We seek products that are built on top of timeless insights into customer needs and desires. These products are likely to attract early customers who will be delighted to use them.

Company

We look for companies that have built the necessary foundations to grow upon. Our investment is going to be an instrument for them to spin the flywheel faster.

Reputation

We put our reputation above any other consideration. We don’t invest in companies and founders with questionable moral codes. We can afford to lose money but cannot afford to damage our reputation.

Here’s how we add value to our portfolio companies.

Pitch

If you think that your company and team can be a good fit for us, let’s talk.

Portfolio

We partner with companies that are transforming their industries for good.

We help them lead their markets and expand internationally.

Team

We founded, led, invested, and sold.

İlker Sözdinler, Managing Partner. Ilker was the Founder and CEO of United Payment. Under his leadership, the business scaled to 7 markets and completed its exit. He chairs DEIK’s Digital Business Council Fintech Committee.

Emrah Silav, Managing Partner. Emrah was the Chairman of United Payment, transforming the startup into a mature business. Previously, he led investments at Turkey’s leading pension fund and was the President of Oyak Financial Group.

İhsan Elgin, Managing Partner. Ihsan is an Executive Board Member at Finberg, Fibabanka’s venture capital arm. He is also a Founding Member of Q Angels, and the Co-founder of Fintech Istanbul. Ihsan was the Founding Director of Fit Startup Factory at Ozyegin University.

Emir Bölen, Managing Director. Emir was a Principal at Formus Capital, a US-based early stage VC fund. Previously, he was a corporate finance associate director at Yapi Kredi Yatirim and an equity research analyst at Global Securities.

Can Ergelmiş, Investment and Strategy Director. Can is a strategy leader with 15+ years in tech-driven growth. He was the Head of Europe Marketing and Prime Expansion at Amazon, launched Hepsipay at Hepsiburada, was Chief Strategy Officer at Goldman Sachs investment Jolly, and co-founded & exited Doktortakvimi.

Derin Koçer, Business Analyst. Derin was a Policy Lead at the UK’s leading business group for startups, The Entrepreneurs Network. He worked for Portland Communications as the company led the international communications of the 2020 World Cup. Derin is recognized as a Rising Leader Fellow by the Aspen Institute.

All Team

Institutional Partners

Azimut, Operational Partner. Acting as the fund’s management platform, Azimut provides the regulatory structure, governance framework, and fund administration.

Finberg, General Partner. Finberg is the Venture Capital arm of Fibabanka, one of Turkey’s leading banks. It has invested more than $90 million in 50+ startups. Fibabanka is a subsidiary of Fiba Holding.

Fibaportföy, Operational Partner. As a registered asset manager, Fibaportföy oversees the management of Oleka Capital’s financial vehicles in Türkiye. Fibaportföy is responsible for a diverse portfolio of investments with $2 billion under management.