Istanbul Venture Capital Initiative (iVCi)

The Istanbul Venture Capital Initiative (iVCi) was Türkiye’s first ever dedicated fund of funds and co-investment programme. The investors in iVCi were the Small and Medium Enterprises Development Organisation of Türkiye (KOSGEB), the Technology Development Foundation of Türkiye (TTGV), the Development Bank of Türkiye (TKB), Garanti Bank, National Bank of Greece Group (NBG) and the European Investment Fund (EIF).

iVCi has acted as a catalyst for the development of the venture capital market in Türkiye. By leveraging on EIF's experience, iVCi has provided access to finance to Turkish companies through investments in independently-managed funds and co-investments.

iVCi has now successfully completed its investment period having fully committed to 10 portfolio funds and leveraged over EUR 1.5bn third-party capital.

Read more about iVCi

For further EIF equity activities in Türkiye, see the  Technology Transfer Accelerator Türkiye (TTA)

Regulation (EU) 2019/2088 (SFDR):
The Fund defines with the assistance of the Investment Advisor certain excluded sectors in which the Fund is prohibited to invest directly or indirectly The selection of such sectors is based on the Investment Advisor ESG guidelines: EIF Environmental, Social and Corporate Governance (ESG) Principles as well as on investment considerations meant to avoid inter alia any actual or potential material social, governance and/or environmental negative impact  on the Fund performance. Such excluded sectors are taken into consideration in the investment process and decision-making process of the Fund.

The Fund does not consider adverse impact of investment decisions on sustainability factors at the present time considering that (i) in the absence of regulatory guidance, it is not clear what regulators will expect of entities that elect to consider such matters at this time, and (ii) it is also not clear that there is sufficient data, and data of a sufficient quality, to support entities that do so, in the relevant asset classes, industries or sectors in which investments have been/may be made. Sustainability factors are environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.