GKG Ventures, a Netherlands-based venture capital (VC) arm of the global financial services conglomerate Global Kapital Group (GKG), and Bogazici Ventures, one of Turkey’s leading VC firms, have reached a cooperation agreement under which they will provide growth capital and strategic and operational support to fintech start-ups.
GKG Ventures, which was established in 2021 as part of GKG, a group of fintech companies operating across five continents, and Bogazici Ventures, which has been supporting Turkish technology focused start-ups since 2015, will seek to invest in fintech start-up companies primarily in Turkey and South-East Europe. Initially they will seek to commit a combined USD30 million to the collaboration.
The venture capital firms will also explore opportunities in secondary target markets across the remainder of Europe and Asia.
GKG Ventures and Bogazici Ventures will not only provide financial support but will also offer guidance to the fintech companies aiming to enter the global market. The firms will also advise on strategy, risk management, vertical and horizontal growth, technology, law, compliance processes, human resources, marketing, institutionalisation, and management.
