Revo Capital

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.

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

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

• Venture capital investing
• Early-stage funding
• Technology startups
• Growth capital
• Series A investments

Headquarters

HQ city

Istanbul

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management Fees: VC firms typically charge management fees on committed capital under management, typically 2% annually, to cover operational expenses and fund management activities.
2. 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

Core 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

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Microsoft for StartupscoreTechnology or IntegrationAccredited 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)majorTechnology or IntegrationGrowth Platform Partner providing cloud infrastructure services for scalable, secure, and cost-effective deployments. Part of Revo's startup support ecosystem.
• DeelminorImplementation/ SI/ Consulting PartnerGrowth Platform Partner for effortless onboarding and payroll for global teams, helping portfolio companies manage international hiring.
• Kariyer.netminorImplementation/ SI/ Consulting PartnerGrowth Platform Partner - Türkiye's largest online recruitment platform supporting portfolio companies with talent acquisition.
• Stanton ChaseminorImplementation/ SI/ Consulting PartnerGrowth Platform Partner - Executive search recruitment agency supporting senior-level hiring for portfolio companies.
• Alchemist AcceleratormajorStrategic or Co-development PartnerRevo 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

Regional 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

• Xx.com/revovc
• LinkedInlinkedin.com/company/3066683
• Facebookfacebook.com/revovc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments84 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Revo Capital