Does iVCi invest in Turkish companies directly?
iVCi is a dedicated fund of funds and co-investment programme. It therefore mainly undertakes primary investments, or investments into funds. Up to 50% of iVCi fund can be utilised in direct investments which are structured as co-investments with trusted investors.
Will iVCi invest in a fund whose regional scope is outside Turkey?
The final beneficiary of an iVCi investment must be a Turkish entity. As such, providing that any commitment made by iVCi into a fund is invested into a Turkish entity, the fund as a whole may undertake investments in other geographies so long as this is part of a coherent investment strategy.
Does EIF decide on the investment made by iVCi?
iVCi is advised by EIF. This means EIF is responsible for the day-to-day operations of the fund, including screening and analysing investment proposals. EIF is also responsible in making recommendations to the iVCi Investment Committee. It is the iVCi Investment Committee that ultimately makes a decision on whether an investment takes place or not.
How long is the investment period of iVCi?
iVCi has a four (4) year investment period that can be extended twice by one (1) year periods.
Is iVCi focussed in any single sector?
iVCi is a generalist investment programme. It cannot however make investments in the following:
iVCi also needs to be compliant with EU legislation on genetically modified micro-organisms (GMOs) and provide, where appropriate, ethical guidelines and (or) foresee appropriate monitoring procedures regarding investments in such sectors.
How to submit a proposal?
Should you wish to submit a proposal, please send details of your project to email@example.com. Such details can take the form of a teaser, an email, or a detailed information memorandum.
What is the process before an investment is approved by the iVCi Investment Committee?
iVCi follows the standard EIF investment process. First, several investment professionals review the initial fund proposal. If such a proposal meets the criteria of iVCi, a second screening shall be made. This takes the form of a meeting or a conference call and gives the opportunity to EIF to further understand the investment proposal and the fund manager to elaborate on the project. If such a second screening is successful, an on-site due diligence by EIF will be organised. During such a due diligence we undertake detailed analysis of the proposal, looking specifically at (but not limited to) the investment strategy, the market opportunity and competitive landscape, the team composition, the track record, the fund structure and the deal flow potential. Following such a thorough due diligence, we will decide on whether the proposal can be submitted or not to the iVCi Investment Committee for approval.
What if I only have the idea of raising a fund at this point?
Whilst the previous paragraph depicts the standard investment process, we do seek to have a catalytic role in a team's fundraising,particularly when it comes to first time teams.Hence, we encourage fund managers to establish contact with EIF early on in their planning, even as early as when only the idea of raising a fund is taking shape. This allows us to share the experience gained at EIF in supporting over 300 funds across the EU and Accession countries.