“We established 212 in 2012 to invest in HighTech companies in Turkey. Our thesis was that there is entrepreneurial and technical talent in Turkey to create worldwide success stories. We’ve confirmed that with investments such as Insider, iyzico, HotelRunner, and Solvoyo.
In our second fund, we will prove that these success stories are repeatable. We aim to invest a minimum of 50 million euros in 15 enterprises over the next 15 years.
We believe Turkey is a great hub for entrepreneurs, and our investment thesis is simple: ” Test Local, Go Global”.
The local developer talent pool is sizable and affordable. creating a great launchpad for upcoming startups, especially for their R&D work (Research & Development). There continues to be tremendous potential in Turkey due to the positive transformation happening in the last five years in the startup ecosystem with 770 R&D centers, 19 GE, PE, and FDI’S, 63 Techno parks, and more than 50 incubators & accelerators.
Even though the per-capita investment amount is well below $1 ( compared to the $30 European union average) Turkey delivers, out of the top 11 VC-backed regional exits in 2018, 3 are from Turkey ( Gram Games, Trendyol Group, and opsgeni).
We are impressed by the local talent daily, have a very strong pipeline, and remain bullish on Turkey.”
An interview with Ali Karabey,
Founder  & General Partner at 212,
about “The state of Turkish Startup Ecosystem”,
for Investment Office,
Presidency of The Republic Of Turkey
