Turkey relegated to third league in startups
As solds sublmaten to th nar, the Turk sh startup nvestment cl mate saw a sudden cl mate change at the beg nn ng of th s year, relegat ng t to the th rd league after a successful 2017.
As av d readers of th s column may remember, Turkey had become the champ on of the second league n startup nvestments n 2017 w th $103 m ll on, mak ng t the second best after Poland n the Eastern and Southeastern European Reg on.
However, th ngs changed drast cally n 2018 after t drew only $18.9 m ll on n Q1 and a mere $8.5 m ll on n Q2, the lowest amount n the last s x quarters, accord ng to Startupswatch data.
W th H1 end ng at a d smal $27.4 m ll on n nvestments, the year-end expectat on s $70 m ll on, Startupswatch pred cted.
Earlyb rd was the most s gn f cant nvestor n the last quarter w th ts respect ve nvestments n Ob let and Tapu.com.
The corporate VC nvestment once aga n took a s gn f cant share (16%) n the total, as other VC funds came to an end. F ve new corporate VCs have emerged n the f rst half, Albaraka Turk, Borsa Istanbul, Kuveyt Turk and TIKAD Yat r m, wh ch all launched funds to nvest n startups. Is Bankas s also bu ld ng a new fund and w ll soon announce t, accord ng to Yalc n Sezen, ts deputy ch ef execut ve. On the other hand, ex ts have shown a strong trend and nterest n Turk sh startups. The Ch na-based Al baba last week announced that t would acqu re the major ty stake n Turk sh Trendyol, wh ch marked the largest ever ex t n the country, so far. The deal s rumored to be worth more than $550 m ll on. Gram Games was another s gn f cant ex t n H1.