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500 Startups Announces $15M Turkey Fund

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October 05, 2015

500 Startups is proud to announce the launch of 500 Istanbul, a $15M micro-fund focused on Turkish startups, led by 500 Venture Partner Erhan Erdogan, along with 500 Fund Advisor Erbil Karaman (learn more about Erhan & Erbil here). The new fund plans to invest in over 100 Turkish startups in the next several years. 500 has already invested in eight companies founded by Turkish entrepreneurs including: Udemy, Socialwire, Parlakbirgelecek, Connected2.me, Boostable, Adphorus, Mobile Action, and Koding.

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“The timing is perfect for 500 to launch a local Turkey fund, and we are excited to help connect Turkish startups and investors with other global tech ecosystems, including Silicon Valley & the US, Europe & the Middle East, and Southeast Asia — locations where 500 already has existing staff and community. 500 Istanbul is open for business, and we are ready to combine forces to build the future together.” – Erhan Erdogan, Venture Partner 

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“It’s no coincidence for thousands of years Anatolia has been home to some of the greatest civilizations in history, and the Silk Road connecting global trading empires has always led to Turkey. With such a young, tech-savvy and entrepreneurial nation, we hope to give birth to many new Turkish unicorns!” – Erbil Karaman, Fund Advisor for 500 Istanbul 

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“500 has been investing in Turkish startups for years, and we know this market has tons of talent. As an early investor in Udemy and other Turkish companies, 500 is excited to bring Silicon Valley connections, capital, and expertise to this promising emerging market.” – Dave McClure, Founding Partner of 500 Startups

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“500 Startups is one of the most important investors in global emerging markets, and the first that comes to mind for early-stage companies. 500 has added both social and economic value to startups all over the world, and has been a source of inspiration and hope for many entrepreneurs. Aslanoba Capital is excited to work together with 500 Startups to develop the Turkish ecosystem, and help bring global opportunities to our local startups and entrepreneurs.” – Hasan Aslanoba, Founding Chairman of Aslanoba Capital

Recent Press Coverage: TechCrunch, Venturebeat, Tech.eu, CNN TÜRK

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