Revo Capital
Revo Capital is Turkey's largest technology-focused venture capital firm, managing $250M+ across three funds to lead Series A and early Series B rounds ($5M initial, up to $10M total exposure) in Turkish-founded startups and select CEE/Baltics markets, with a Growth Platform and DFI-anchored LP base.
- Company typePrivate
- Founded2013
- HeadquartersIstanbul
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Revo Capital does
Revo Capital is Türkiye's largest dedicated technology-focused venture capital firm, founded in 2013 by Cenk Bayrakdar and Berkin Toktaş and headquartered operationally in Istanbul (with Revo Capital Management B.V. registered in Amstelveen, Netherlands). The firm manages three funds cumulatively exceeding $250M in committed capital — Fund I ($66M, 2013), Fund II (€90M, September 2021), and Fund III ($86M first close, April 2025, targeting $100M+) — anchored by Development Finance Institutions (IFC $20M, KfW-DEG $20M, EBRD $15M, EIF) and a consortium of Turkish corporate VCs including Finberg, Eksim Ventures, Inveo Ventures, and Yıldız Ventures. Revo's investment thesis targets Series A and early Series B investments (typically up to $5M initial, up to $10M total exposure) in tech-driven startups with Turkish founders or Turkish R&D teams, with opportunistic coverage of Central and Eastern Europe and the Baltics; a dedicated Seed Pocket of $250K-$500K tickets supports earlier-stage conviction-building. The firm has executed 48 investments and 17 successful exits to date, with portfolio category leaders including unicorns Getir and Builder.ai.
The firm's business model follows standard VC economics: recurring management fees (industry-typical 2% on committed/invested capital) on the fund vehicles plus performance-based carried interest (industry-typical 20% above hurdle) on realized exits — Revo does not charge portfolio companies directly. Beyond capital, Revo operates a Growth Platform that provides portfolio companies with operational support across strategy, finance, fundraising, global expansion, marketing, sales, and hiring, delivered through a curated Partner Network spanning Microsoft for Startups (Accredited VC Partner), AWS, Deel, Kariyer.net, Carta, ChartMogul, Visible.vc, HubSpot, Zendesk, and accelerator co-investor Alchemist Accelerator. Distribution of deal flow is relationship-led via the founder application portal at revo.vc, ecosystem referrals, and active participation at events such as Slush'D Istanbul.
Revo positions itself as a Türkiye-to-global bridge, with 70%+ of portfolio company revenue generated internationally, 84% of Fund II portfolio companies headquartered abroad (versus 33% in Fund I), and 92% of portfolio follow-on capital sourced from international investors. Fund III has expanded the thematic focus to explicitly include AI-driven innovation across fintech, B2B SaaS, cybersecurity, healthtech, energy, and gaming, and the firm has concentrated recent lead investments in AI-native companies (Turbo Law, MYTH AI, Virgosol, Flowla, boby.ai, eachlabs, Monq). Revo-backed startups account for 54% of all venture capital raised by Turkish startups since 2021, and the firm has attracted $3.5B in follow-on investment into its portfolio from international investors.
Revo Capital firmographics
Firmographics- Name
- Revo Capital
- Legal name
- Revo Capital Management B.V.
- Website
- https://revo.vc
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Revo Capital is Turkey's largest technology-focused venture capital firm, managing $250M+ across three funds to lead Series A and early Series B rounds ($5M initial, up to $10M total exposure) in Turkish-founded startups and select CEE/Baltics markets, with a Growth Platform and DFI-anchored LP base.
- Ownership category
- akta.pro rank
Revo Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)
Keywords
Where Revo Capital is headquartered
LocationHeadquarters
- HQ city
- Istanbul
Offices2 records
Markets served
Revo Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: VC firms typically charge management fees on committed capital under management, typically 2% annually, to cover operational expenses and fund management activities.
- Carried Interest (Carry): Performance-based allocation typically 20% of profits above the hurdle rate, aligning fund manager interests with LP returns. This is the primary value creation mechanism for VC fund managers.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Revo Capital product offering
Product offeringCore offering
Revo Capital is a venture capital firm managing three fund vehicles (Fund I $66M, Fund II €90M, Fund III targeting $100M+) that invests in early-stage B2B and B2C technology startups in Turkey, Eastern Europe, and the Baltics. The firm provides growth capital of up to $5 million initially (with total exposure up to $10 million per company including follow-on) and supplements it with a Seed Pocket program ($250K-$500K initial) for pre-seed and seed-stage opportunities. Portfolio companies also receive operational support through a dedicated Growth Platform covering strategy, hiring, global expansion, marketing, fundraising, and access to a vetted partner network.
Product overview
Revo Capital is Türkiye's pioneering and largest technology-focused venture capital firm, offering fund management products across three funds (Fund I $66M, Fund II €90M, Fund III targeting $100M+). The firm provides a Growth Platform delivering operational support including strategy, finance, global expansion, marketing, sales, hiring, and fundraising assistance. The ecosystem includes a Partner Network of vetted tools and consultants, a Startup Application Portal for founders seeking funding, and a Talent Job Board connecting professionals with portfolio companies. The funds collectively target AI-driven innovation across fintech, B2B SaaS, cybersecurity, health technologies, energy, and gaming verticals.
Differentiator
Problem solved
Functional benefit
Products and services
- Revo Capital VC Funds (Fund I, II, III) Three distinct venture capital fund vehicles (Fund I $66M, Fund II €90M, Fund III targeting $100M+) that provide growth capital to early-stage technology startups in Turkey, Eastern Europe, and the Baltics, with a focus on Series A and early Series B stages.
- Growth Platform Operational support service for portfolio companies providing hands-on assistance across product strategy, go-to-market, finance and reporting, global expansion, marketing, hiring, talent acquisition, and follow-on fundraising.
- Seed Pocket Program Dedicated pre-seed and seed investment pocket providing initial tickets of $250,000 to $500,000 to build early conviction in startups and secure pro-rata rights for subsequent Series A leadership.
Quantifiable outcome
- 92% of follow-on investment in portfolio companies comes from international investors
- +3 more outcomes
Companies that use Revo Capital
Customer profileSegments2 records
Ideal customer profiles2 records
Revo Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Revo Capital partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core, major and minor.
- Microsoft for StartupscoreAccredited VC partner providing portfolio companies access to Microsoft for Startups benefits including up to $100,000 in Azure credits, additional perks, and tailored startup support. Joint go-to-market activities including Envisioning AI Event.
- AWS (Amazon Web Services)majorGrowth Platform Partner providing cloud infrastructure services for scalable, secure, and cost-effective deployments. Part of Revo's startup support ecosystem.
- DeelminorGrowth Platform Partner for effortless onboarding and payroll for global teams, helping portfolio companies manage international hiring.
- Kariyer.netminorGrowth Platform Partner - Türkiye's largest online recruitment platform supporting portfolio companies with talent acquisition.
- Stanton ChaseminorGrowth Platform Partner - Executive search recruitment agency supporting senior-level hiring for portfolio companies.
- Alchemist AcceleratormajorRevo Capital co-invests with Alchemist Accelerator in startups. Notable joint investment in Turbo Law ($3.8M seed round). Alchemist is a premier accelerator for enterprise-focused startups.
Scale indicators11 records
Recent moves7 records
Expansion highlights5 records
Revo Capital competitors and assessment
Company assessmentRegional players
- 212: Turkish-focused venture capital firm investing in early-stage technology companies. Closest direct domestic peer to Revo Capital, competing for the same Turkish founder pool and DFI/strategic LP relationships.
- ACT Venture Partners: Early-stage Turkish VC investing in technology-enabled startups. Directly comparable on geography, stage, and ticket size; competes head-to-head with Revo for Series A Turkish tech deals.
- Collective Spark: Turkish early-stage VC focused on seed and Series A technology startups. Domestic peer competing for the same Turkish founder pipeline at the seed-to-Series A transition.
- LAUNCHub Ventures: Early-stage VC focused on Southeastern Europe (SEE) and the Balkans. Comparable on emerging European regional thesis, DFI backing, and seed-to-Series A ticket sizes for founders building from smaller ecosystems.
Direct peers
- Earlybird Venture Capital: European early-stage VC with significant Türkiye/CEE exposure and DFI-backed funds. Closest European peer by stage, fund size, LP composition, and pan-European emerging-market thesis.
- Speedinvest: European sector-focused early-stage VC with strong CEE/Baltics presence. Comparable in stage (Series A/B), operational value-add model, and regional cross-border investment approach.
- Target Global: Israeli/European early-growth VC investing across EMEA. Comparable on emerging-market European thesis, ticket size, and operational support model for founders building globally from regional hubs.
- Northzone: Nordic-rooted European VC with investments across CEE and the Baltics. Comparable on European cross-border Series A investing, founder support model, and emerging-manager growth trajectory.
- Elevator Ventures (Raiffeisen Bank International): CEE-focused fintech and enterprise software VC backed by a major banking group. Comparable in CEE regional thesis, corporate VC structure, and pan-CEE deal sourcing approach.
Broad incumbents
- Atomico: European technology venture firm with broad sector and stage mandate. Larger-scale European incumbent operating in adjacent geography and stages to Revo; not a direct competitor but a relevant benchmark on European VC scale and exits.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Revo Capital social profiles
Digital presenceRevo Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Revo Capital leadership team
Management profileNumber of profiles
Profiles9 records
Revo Capital subsidiaries and ownership
Company hierarchySubsidiaries1 record
Revo Capital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Revo Capital M&A and investment
M&A and investmentM&A
Investments84 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Revo Capital
What does Revo Capital do?
Revo Capital is a venture capital firm managing three fund vehicles (Fund I $66M, Fund II €90M, Fund III targeting $100M+) that invests in early-stage B2B and B2C technology startups in Turkey, Eastern Europe, and the Baltics. The firm provides growth capital of up to $5 million initially (with total exposure up to $10 million per company including follow-on) and supplements it with a Seed Pocket program ($250K-$500K initial) for pre-seed and seed-stage opportunities. Portfolio companies also receive operational support through a dedicated Growth Platform covering strategy, hiring, global expansion, marketing, fundraising, and access to a vetted partner network.
Is Revo Capital a public or private company?
Revo Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Revo Capital founded?
Revo Capital was founded in 2013. It employs 11 to 50 people.
Where is Revo Capital based?
Revo Capital is headquartered in Istanbul.
How does Revo Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest (Carry).
Who are Revo Capital's main competitors?
Regional players on record are 212, ACT Venture Partners, Collective Spark and LAUNCHub Ventures. Direct peers are Earlybird Venture Capital, Speedinvest, Target Global, Northzone and Elevator Ventures (Raiffeisen Bank International). Atomico is listed as a broad incumbent.
Does Revo Capital have an API?
No public API is recorded for Revo Capital.
What industry is Revo Capital in?
Revo Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms. Its NAICS code is 523940 and its SIC code is 6282.