Istanbul Venture Capital Initiative (iVCi), founded in 2007, is Turkey’s first ever dedicated fund of funds and co-investment programme. The investors in iVCi are the Small and Medium Enterprises Development Organisation of Turkey (KOSGEB), the Technology Development Foundation of Turkey (TTGV), the Development Bank of Turkey (TKB), Garanti Bank, National Bank of Greece Group (NBG) and the European Investment Fund (EIF). EIF is the adviser to iVCi.
iVCi leverages on the experience of EIF, the European Union’s specialised financial body for Small and Medium Enterprises (SMEs) and the risk capital arm of the European Investment Bank Group (EIB Group).
iVCi has signed eight commitments amounting to EUR 144 million. With the addition of a regional fund in 2012, iVCi will be fully committed bringing the total portfolio to nine funds.