VC Investment in MENAPT Countries 2018-2023
20 February 2024•
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In the competitive arena of venture capital and technological innovation, Turkey is stepping out of the shadows of its regional contemporaries.
Turkey ranked 3rd in MENAPT for cumulative VC investments raised in the six years between 2018 and 2023, just behind Israel and UAE, ranking 1st and 2nd respectively.
After a decade of cultivating talent, fostering innovation, and building investor confidence, the Turkish startup ecosystem achieved its highest enterprise value growing tenfold from US $4 billion in 2018 to a remarkable US $43 billion in 2022.
Of course, just as seen everywhere else on the planet, there have been market valuation corrections in 2023, as the VC winter continues to set in – but what Turkey has been able to achieve in a remarkably short period of time, is head-turning.
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