Building on the success and impact of the iVCi, setting up the new Turkish Growth and Innovation Facility (TGIF) represented a logical next step in the development of the ecosystem.
TGIF undertook its first closing in May 2016 and consequently its final closing in August 2017 with EUR 200 million in resources from the following three investors: the Republic of Türkiye Ministry of Treasury and Finance - KOSGEB, the Industrial Development Bank of Türkiye - TSKB, and the EIF.
PROGRESS TO DATE
So far, funds backed by TGIF have invested in 144 portfolio companies for a total commitment of more than EUR 1.2 billion. This represents a net leverage close to 6x on the TGIF aggregate contribution to the funds.
Of these 144 companies, 100 are in Türkiye and have received EUR 1.047 million. The TGIF portfolio currently features three unicorns.
TGIF - total investments made by the underlying companies by year (in million EUR)
FUNDS BACKED BY TGIF
TGIF has supported 11 funds with an aggregate size of EUR 2,016 million.
- 212 Regional Fund II S.C.S.
- Actera Partners III
- CCL CEECAT Fund II
- Collective Spark Fund B.V.
- Diffusion Capital Partners Fund II SCSp
- Digital East Fund II- Earlybird
- Mediterra Capital Partners II
- Revo Capital Fund II B.V.
- ScaleX Ventures Fund I Cooperatief U.A.
- Taxim Capital Partners I LP
- Templeton Turkey Fund, L.P.