Lonca Venture Capital Investment Fund, established by Kuveyt Türk's subsidiary KT Portföy, aims to make early and growth stage investments in technology-focused scalable startups.
Lonca Venture Capital Investment Fund was established by KT Portföy, a 100% subsidiary of Kuveyt Türk, leading participation finance institution of Turkey. The fund, named after the Lonca Entrepreneurship Center established by Kuveyt Türk in 2017, aims to make early and growth stage investments in technology-focused scalable startups. Kuveyt Türk will provide a source of 25 million TL as the first investor to the Lonca Venture Capital Investment Fund.
In a statement on the subject, Mr Ufuk Uyan the CEO of Kuveyt Türk said, “We established the Lonca Entrepreneurship Center in 2017 to support the projects of entrepreneurs with technology-focused and scalable business ideas and to help the ideas become added value quickly. We supported enterprises with high potential to provide added value and qualified employment in 2018, through Teknogirişim VCIF, founded by KT Portföy, by investing in 7 companies in healthcare, open-source accounting and finance program, 3D printing for industrial production, image processing, next generation SaaS research and marketing, after-sales auto service and "last step delivery" technologies for businesses. With the contribution of our knowledge and experience gained in Lonca Entrepreneurship Center and Teknogirişim VCIF, we established Lonca VCIF and allocated 25 million TL as the first investor. In the coming period, we will put Lonca VCIF into the service of the entrepreneurial ecosystem in a structure that includes qualified individual and institutional investors from Turkey and abroad.”
Hamit Kütük, KT Portföy’s General Manager, said, “With Lonca VCIF, we plan to make early-stage and later growth capital investments in technology-oriented scalable companies within a 2-year period. The successful performance of the companies we invested in at Teknogirişim VCIF and the demands of our entrepreneurs prompted us to establish funds to invest in startups at the early stage as well as at the growth stage. We aim to continue our close cooperation with the Lonca Entrepreneurship Center and other incubators in the ecosystem and other participants of the sector in Lonca VCIF, as in Teknogirişim VCIF.”
Initiatives invested by Teknogirişim VCIF
Offers global open source accounting and finance software solutions for SMEs. www.akaunting.com
Develops image processing technology-based quality control products for the automotive and white goods industries.. www.visiomex.com
Produces machinery, materials and software in the field of 3D printer technologies for industrial production. www.ookuma.com
Next-generation SaaS research and marketing platform that enables brands to get consumer feedback with microtargets. www.pollective.com
Offers clinical management and “Telemedicine” services for clinics and doctors under a single SaaS platform. www.bulutklinik.com
An initiative that gathers the after-sales services that automobile users constantly need under a single platform. www.otovinn.com
Iletmen is a logistics industry initiative that provides package service for businesses in the field of "Last Step Delivery". www.iletmen.com