VC Investments in Startups Based in Turkey 2010-2023
11 March 2024•
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Investment in Turkish startups averaged US $100 million annually between 2010 and 2020 – a very modest figure in the global startup landscape; but 2021 marked a seismic shift, when over US $3.5 billion was invested in Turkish startups, surpassing the total investment of the previous ten years, combined (in a single year)!
The recent surge in Turkey's startup ecosystem can be attributed to a potent combination of longstanding latent talent and a significant influx of new funding, both domestic and foreign, particularly from the US and Asia. This influx has catalyzed the emergence of 'renaissance entrepreneurs' — dynamic pioneers who are not only launching new ventures but are also reinvesting in the ecosystem as angel investors, mentors, or limited partners in venture capital funds. This development has fostered a self-sustaining ecosystem, increasingly drawing international attention and investment.
Read More: Turkey's Path to Unicorn-dom
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