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Revo Capital is a venture capital firm founded in 2013 and headquartered in Turkey. The firm has established itself as the largest VC in Turkey, raising over $250 million across three funds. Its inaugural fund raised $66 million, while the second fund closed at €90 million in September 2021, significantly oversubscribed. Revo Capital has made 43 investments and achieved 17 successful exits, showcasing its effectiveness in identifying and nurturing promising startups.
The firm operates primarily in Turkey, Eastern Europe, and the Baltics, focusing on early-stage B2B and B2C technology ventures. Revo Capital's notable milestones include its recognition as a leading player in the venture capital space and its strategic partnerships with institutional investors like the International Finance Corporation (IFC), which invested $20 million in its third fund. The firm is committed to supporting innovative startups that leverage technology to redefine industries and create impactful solutions.
Revo Capital primarily invests in early-stage technology ventures, particularly at the Series A and early Series B stages. The firm targets a diverse range of sectors, including fintech, B2B SaaS, cybersecurity, healthcare, energy, and gaming. A significant aspect of Revo Capital's investment strategy is its emphasis on artificial intelligence (AI) as a horizontal enabler across these sectors. The firm seeks to partner with founders who utilize AI to enhance their products and workflows, thereby driving innovation and efficiency.
Investment sizes typically range from $1 million to $5 million, with total exposure per company potentially reaching up to $10 million over its lifecycle. Revo Capital looks for companies with proven product-market fit and significant growth potential, particularly those generating over €100,000 in monthly recurring revenue (MRR). The firm aims to support startups with global aspirations, providing them with the resources and guidance necessary to scale effectively.
Revo Capital's portfolio includes a diverse array of innovative companies, showcasing its commitment to technology-driven ventures. Notable portfolio companies include:
This diverse portfolio reflects Revo Capital's strategy of investing in companies that leverage technology to create impactful solutions across various industries.
Cenk Bayrakdar - Founding Partner and Managing Director. Cenk has extensive experience in venture capital and technology investments, having led numerous successful deals in the Turkish market.
Berkin Toktaş - Partner. Berkin specializes in fintech and has a strong background in scaling technology startups.
Jaap van Dijk - Partner. Jaap brings expertise in international markets and has a track record of successful investments in emerging technologies.
Onno Jacobs - Partner. Onno focuses on healthcare and energy sectors, leveraging his background in engineering and business development.
Deniz Aslandoğan - Vice President. Deniz has a strong analytical background and supports portfolio companies in strategic growth initiatives.
Melis Gençtürk - Associate. Melis is involved in deal sourcing and due diligence, with a keen interest in AI-driven startups.
Cansu Ulcay - Associate. Cansu supports the investment team with market research and analysis, focusing on emerging technology trends.
Sarp Can Bayrakdar - Analyst. Sarp assists in evaluating potential investments and monitoring portfolio performance.
To pitch to Revo Capital, startups should visit their website at revo.capital. The pitch deck should include a comprehensive overview of the business model, market analysis, financial projections, and details about the founding team. Revo Capital prefers to receive pitches through their online platform and values warm introductions from mutual contacts.
Response times can vary, but founders can generally expect feedback within a few weeks. It is advisable to ensure that the pitch is concise and highlights the unique aspects of the startup, particularly any innovative use of AI.
Revo Capital offers a Growth Support Platform designed to assist portfolio companies in various areas, including strategy, finance, global expansion, marketing, sales, hiring, and fundraising. This platform aims to help startups scale effectively and navigate the challenges of growth.
Additionally, Revo Capital organizes events such as the Building Bridges event, which connects Turkish startups with global investors, featuring keynote speakers and panels discussing entrepreneurship and investment.
In recent months, Revo Capital has been active in the venture capital space, leading a $1 million seed round for Cendra, an AI-powered property operations platform for the hospitality sector. This investment reflects the firm's ongoing commitment to supporting innovative technology ventures.
Additionally, Revo Capital's portfolio company Midas raised Türkiye’s largest-ever fintech round, securing $80 million in Series B funding. This milestone highlights the firm's ability to identify and support high-potential startups in the rapidly evolving fintech landscape.
Revo Capital's third fund achieved an $86 million first close, with a significant $20 million investment from the International Finance Corporation (IFC), underscoring institutional confidence in the firm's strategy and the emerging tech ecosystem in Turkey and Eastern Europe.
What are Revo Capital's investment criteria?
Revo Capital focuses on early-stage technology ventures, particularly in sectors such as fintech, B2B SaaS, cybersecurity, healthcare, energy, and gaming. The firm typically invests between $1 million and $5 million, targeting companies with proven product-market fit and significant growth potential.
How can startups apply or pitch to Revo Capital?
Startups can pitch to Revo Capital through their website at revo.capital. It is advisable to include a detailed business plan, financial projections, and information about the founding team in the pitch deck.
What makes Revo Capital different from other VCs?
Revo Capital is recognized as Turkey's largest VC, with a strong emphasis on AI-driven innovation. The firm has achieved 17 successful exits and has a robust network of industry contacts, providing valuable support to portfolio companies.
What is Revo Capital's geographic scope?
The firm primarily invests in Turkey, Eastern Europe, and the Baltics, focusing on technology ventures with global aspirations.
What kind of post-investment involvement does Revo Capital have?
Revo Capital actively supports its portfolio companies through strategic guidance, access to a robust network, and expertise in scaling technology-driven businesses. The firm aims to help founders refine their product offerings and navigate market challenges.
What is the size of Revo Capital's funds?
Revo Capital has raised over $250 million across three funds, with its second fund closing at €90 million and its third fund achieving an $86 million first close, supported by a $20 million investment from the IFC.
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