BAKU, Azerbaijan, April 30. The European Bank for Reconstruction and Development (EBRD) is investing $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, Trend reports.
The fund will target investments in sectors such as B2B SaaS, fintech, cloud operations, security, health IT, energy, and gaming.
This investment aims to help companies with Turkish founders or R&D teams in Türkiye enhance their competitiveness, fostering the development of innovative technologies and business models. The EBRD has been an investor in Revo Capital since 2015, when it became the first international investor in Revo Capital Fund I, and continued its support as a cornerstone investor in Fund II in 2019.
The latest investment is part of the EBRD’s Early-Stage Innovation Facility II, which funds venture capital projects across its regions of operation, improving capital availability for innovative startups. Michael Parry, Head of Venture Funds at the EBRD, emphasized that backing such funds helps build global competitiveness and resilience in emerging economies.
Cenk Bayrakdar, Founding Partner of Revo Capital, expressed gratitude for the EBRD’s continued support, highlighting its key role in helping Turkish startups scale globally and drive systemic change in the region.
Since 2009, the EBRD has invested over 20 billion euros in Türkiye, primarily in the private sector through 478 projects and trade finance initiatives.