Summary of Proposed Investment
Project Number
10470
Company Name
TURKISH PRIVATE EQUITY FUND I L.P.
Date SPI Disclosed
Apr 27, 2001
Country
Turkiye
Industry
other
Projected Board Date
Jun 8, 2001
Status
Completed
Sector
Private Equity/Venture Cap Fund - Country
Department
TMT, Venture Capital & Funds
Environmental Category
FI
Previous Events
Approved : Jun 28, 2001
Signed : Mar 7, 2002
Invested : Apr 2, 2002
Project Description
The Fund, one of the first of its kind in Turkey, will invest in enterprises looking for expansion capital. It will also seek acquisition opportunities for investment. The Fund is expected to create a diversified portfolio in industries driven by growth, exports, and deregulation.
Investing in a private equity fund in Turkey has long been a part of IFC''s financial markets strategy in Turkey, as a necessary complement to the loan funding that IFC has made available through commercial banks. The development impact of this project is particularly pronounced in Turkey where the availability of private equity has historically been limited. Currently Turkey is in the middle of a financial crisis, which has greatly reduced the bank credits available to real sector companies in Turkey. Such an environment increases the importance of private equity funds in the economy.
IFC has been active in helping structure the Fund and in guiding the project sponsors. In addition, IFC has introduced TVP to Advent. IFC''s participation on the Advisory Board of the Fund will also provide significant comfort to potential investors, who value IFC''s experience in project finance, emerging market venture capital funds in Turkey, as well as its due diligence discipline.
Investing in a private equity fund in Turkey has long been a part of IFC''s financial markets strategy in Turkey, as a necessary complement to the loan funding that IFC has made available through commercial banks. The development impact of this project is particularly pronounced in Turkey where the availability of private equity has historically been limited. Currently Turkey is in the middle of a financial crisis, which has greatly reduced the bank credits available to real sector companies in Turkey. Such an environment increases the importance of private equity funds in the economy.
IFC has been active in helping structure the Fund and in guiding the project sponsors. In addition, IFC has introduced TVP to Advent. IFC''s participation on the Advisory Board of the Fund will also provide significant comfort to potential investors, who value IFC''s experience in project finance, emerging market venture capital funds in Turkey, as well as its due diligence discipline.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Please contact Baris Gen at igen@ifc.org.