G43 Venture Capital

The project, which was developed together with European Investment Fund, created venture capital investment to enterprises with a high growth potential. Supported by Istanbul Venture Capital Initiative, the project aimed to direct at least 50% of the investment to GAP region and the other 50% to the regions where income per capita is less than 75% of the national average.

European Investment Fund transfers project funds to SMEs via ‘financial intermediaries'. Through Abraaj Group as the authorised independent fund manager it was planned to invest in 5-6 enterprises in the targeted region with 20 million Euro fund.

Within the project, fund managers did not only provide capital to SMEs, but they also added value on a larger scale such as helping them to acquire professional management processes so that they could further develop in a competitive environment and building international business contacts.

There were two important criteria for benefiting from G43 Anatolian Venture Capital Fund that was active until the end of 2017:

1. Businesses should have less than 250 employees and the turnover should be less than 50 million Euro or balance sheet size should be less than 43 million Euro. 

2. Businesses should be located or operating in those 43 provinces where per capita income is 75% less than the average of Turkey.

Reviewing SMEs that comply with these broad criteria, the independent fund manager focused on companies presenting high growth potential. The investment decision was taken as a result of detailed commercial, financial and legal analyses. Through this project investment has been made to two companies in Kayseri and Şanlıurfa.