PROJECT

Projects

Summary of Investment Information

Project Number

44434

Company Name

500 STARTUPS ISTANBUL FUND II COOPERATIEF UA

Date SPI Disclosed

Oct 19, 2020

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Nov 19, 2020

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Dec 15, 2022

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Apr 4, 2017
Signed : Aug 5, 2021
Invested : Aug 30, 2021

Sector

Venture Capital Fund

Additional Project Attributes

Blended Finance

Project Description

 IFC is considering an investment of up to US $2.0 million, as well as a US $0.5 million WeFi investment in 500 Startups Istanbul Fund II (“500 Istanbul” or the “Fund”), a Turkey-based seed fund that is raising up to €30 million to invest in early stage technology companies in Turkey and the East Europe region.

The fund will be managed by Rina Onur Sirinoglu and Enis Hulli who both have strong investment and entrepreneurial experience, having started their first fund in 2016.                                                  

Associated Advisory Engagement

                     

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation