TRVC - The Turkish VC podcast

Gizem Yağız is a General Partner at 212 NexT, a venture capital fund focused on advanced materials and deep tech investments. Backed by industrial leaders like Akök Holding, 212 NexT invests globally in early-stage startups building breakthrough technologies across chemicals, advanced materials, and circular systems. In this episode, we explore how deep tech investing actually works—and why it requires a different playbook than traditional software VC.00:07 – Introduction to TRVC & Gizem Yağız00:33 – What is 212 NexT01:09 – Early career in M&A (RWE / Thames Water)02:43 – Moving to Turkey: Pragma Corporate Finance04:30 – Key lesson: you don’t need to know everything06:01 – The “puzzle solving” nature of M&A07:14 – Transition to IFC09:34 – First exposure to venture (Earlybird investment)10:59 – Founding story of 212 NexT11:52 – Role of Akök Holding14:43 – What “advanced materials” investing means16:00 – Sustainability vs unit economics17:54 – Fund strategy and deployment18:34 – Deal flow: analyzing 1,200 startups19:41 – Why Turkey is a bridge for deep tech22:29 – Strategic exits vs IPOs24:48 – Why deep tech requires patience27:38 – Why deep tech becomes defensible over time28:34 – Case studies: Haelixa & Aepnus32:31 – What drives Gizem: building “1 + 1 is more than 2” outcomes34:06 – Why deep tech founders need more than capital35:58 – How 212 NexT adds value (beyond writing checks)37:10 – Building technical conviction without being technical founders39:41 – Why Turkey still lacks deep tech success stories (and what’s missing)40:45 – Why Turkey lacks deep tech success stories (yet)41:02 – Importance of incentives and non-dilutive funding42:06 – Comparison with European funding (EIC)43:01 – Structural challenges in Turkey’s deep tech ecosystem45:29 – Book recommendations and closing thoughts🔗 Referenced (Companies & Organizations)212 NexT – https://212.vc212 – https://212.vcAkök Holding – https://www.kokholding.comAksa Akrilik – https://www.aksa.comIFC – https://www.ifc.orgEarlybird (now BEK ventures) – https://www.bekventures.com/European Innovation Council – https://eic.ec.europa.euETH Zurich – https://ethz.chHaelixa – https://haelixa.com/ Aepnius – https://www.aepnus.com/📚 Recommended BooksStories That Stick - Kindra Hall (https://www.amazon.com/Stories-That-Stick-Storytelling-Captivate/dp/140021193X)The Four Agreements - Don Miguel Ruiz (https://www.amazon.com/Four-Agreements-Practical-Personal-Freedom/dp/1878424319)

Bu bölümde konuğum APY Ventures’tan Mustafa Keçeli. Türkiye’de GSYF yapısının gelişimi, kurumsal yatırımcıların venture capital’a nasıl girdiği ve bir bankanın içinde “bankacı gibi değil, VC gibi” yatırım yapmanın ne anlama geldiğini detaylıca konuştuk.Mustafa’nın en net vurgularından biri şu:VC, bankacılık refleksleriyle yapılmaz.Peki o zaman nasıl yapılır?Risk nasıl alınır?Fonlar nasıl kurulur?Ve Türkiye’de son yıllarda hızla büyüyen VC ekosisteminin arkasındaki gerçek mekanizma ne?Bu bölüm, Türkiye’de girişimcilik ve yatırım dünyasını anlamak isteyen herkes için oldukça net bir çerçeve sunuyor.⏱️ Bölüm Akışı (Chapters)00:00 Giriş01:42 Mustafa Keçeli kimdir?04:15 Bankacılıktan venture capital’a geçiş07:30 APY Ventures nasıl kuruldu?11:20 GSYF nedir, nasıl çalışır?16:05 Türkiye’de VC ekosistemi nasıl büyüdü?21:40 Kurumsal yatırımcılar neden VC’ye giriyor?27:10 “Bankacı gibi değil, VC gibi yatırım yapmak” ne demek?33:25 Risk alma, karar verme ve yatırım mantığı40:10 Türkiye’de VC’nin geleceği46:30 Fon kurmak isteyenler için tavsiyeler52:00 Kapanış🎧 TRVC HakkındaTRVC, Türkiye’de venture capital ve startup ekosistemini derinlemesine ele alan bir podcast serisidir.Her bölümde yatırımcılar, fon yöneticileri ve ekosistemin önemli oyuncularıyla gerçek, filtresiz sohbetler yapıyoruz.

How do you turn $1M into $2.5B?Inside the angel network behind one of Turkey’s biggest startup success stories.In this episode of TRVC – The Turkish VC Podcast, I sit down with Ata Uzunhasan, Managing Director of Galata Business Angels (GBA) — Turkey’s first angel investment network and one of the most successful early-stage investing communities in the region.Since 2012, GBA has backed 60 startups with over $14M invested, producing standout outcomes — including early investment in Insider, now valued at over $2.5B, delivering an extraordinary ~2500x return.But this episode is not just about returns.We go deep into: * How angel investing actually works (vs VC funds) * Why “smart money” matters more than capital * The hidden advantage of angel networks vs traditional VCs * The “mid-market curse” holding Turkish startups back * Practical advice for founders on scaling internationally * And how exits really happen — from secondaries to acquisitionsAta also shares candid insights on: - Why Turkey needs more founders to “give back” - How angel investors think about time vs money - Why some startups fail to scale globally - And what separates the few breakout companies from the restIf you’re a founder, investor, or operator in emerging markets — this is a must-watch.⏱️ Chapters(00:00) – Intro & guest overview(01:00) – Ata’s journey: consulting → banking → startups(09:30) – What is Galata Business Angels (GBA)?(13:00) – Inside GBA: 60 investments & a $2.5B unicorn(16:00) – How angel investing works (vs VC funds)(20:00) – “Smart money”: real value beyond capital(23:30) – Angel vs LP: how investors should think(26:00) – Investment focus: SaaS, AI & Turkey’s edge(29:30) – The “mid-market curse” & going global(36:00) – Scaling playbooks: lessons from Insider(44:00) – How exits really happen (3D, Insider, secondaries)(50:30) – Advice to founders & future of angel investing🔔 Follow & SubscribeIf you’re interested in venture capital, startups, and the Turkish ecosystem:👉 Subscribe for more episodes👉 Share with someone building or investing in startups👉 Comment your biggest takeaway🎧 About TRVC – The Turkish VC Podcast explores the people, ideas, and dynamics shaping the Turkish startup and venture capital ecosystem.

Türkiye’de girişimcilik ekosistemi nasıl büyüdü? GSYF’ler, teknokentler, melek yatırımcılık ve halka arz tarafında neler oluyor?Bu bölümde TRVC’nin konuğu, Boğaziçi Ventures’tan Kenan Çolpan.Kenan Bey ile, girişimcilikten teknokent yönetimine, melek yatırımcılıktan venture capital fon kuruculuğuna uzanan çok katmanlı kariyer yolculuğunu konuştuk. Sohbet; Türkiye girişimcilik ekosisteminin son 10-15 yılda nasıl şekillendiğine, İTÜ ARI Teknokent ve İTÜ Çekirdek gibi yapıların nasıl doğduğuna ve Boğaziçi Ventures’ın bugün geldiği noktaya uzanıyor.Ayrıca Boğaziçi Ventures’ın kuruluş hikayesini detaylı biçimde ele alıyoruz:ilk fon nasıl kuruldu, devlet destekleri ve üniversite bağlantıları nasıl rol oynadı, neden kendi portföy yönetim şirketlerini kurdular ve bugün growth, AI, secondary ve pre-IPO gibi farklı stratejilerde fonları nasıl yönetiyorlar?Bölümün en dikkat çekici taraflarından biri de Türkiye VC ekosisteminin yapısal fotoğrafını çok net ortaya koyması. Erken aşama yatırımlar ile private equity arasındaki boşluk, daha büyük ticket yazabilecek fonlara neden ihtiyaç olduğu, Türk girişimlerinin neden belirli bir aşamadan sonra yurt dışına yönelmek zorunda kaldığı ve Borsa İstanbul’un teknoloji şirketleri için neden çok daha önemli hale gelebileceği üzerine oldukça açık ve samimi bir sohbet var.Kenan Bey ayrıca girişimcilere çok somut tavsiyeler veriyor:yatırımcıya teknik detay değil ticari hikâye anlatmak, pazarı ve çıkış senaryosunu net tarif etmek, 5-7 yıllık hedefleri geriye doğru planlamak, doğru odaklanmak ve coachable bir kurucu olmak neden önemli?Bunlara ek olarak:Boğaziçi Ventures’ın yatırım yaklaşımını, bazı dikkat çekici yatırım örneklerini, Türkiye’den unicorn çıkarmanın artık neden daha mümkün olduğunu, yabancı yatırımcıların Türkiye’ye bakışını ve üniversite endowment kültürünün neden Türkiye’de daha fazla konuşulması gerektiğini de ele alıyoruz.Kısımlar:(00:00) Türkiye Startup Ekosistemin kuruluşu(01:15) İTÜ Çekirdek ve Big Bang’in Hikâyesi(06:19) Türkiye’de Melek Yatırımcılığın İlk Yılları(09:17) Türkiye’de VC Fonları Nasıl Doğdu?(15:31) Boğaziçi Ventures Nasıl Kuruldu?(25:29) Boğaziçi Ventures Hangi Tür Fonlara Yatırım Yapıyor?(30:31) Türkiye’den Unicorn Çıkarmak Ne Kadar Zor?(34:30) Türkiye’de Exit ve Halka Arz Geleceği(42:31) Türkiye Startup Ekosisteminin En Büyük Sorunu(52:40) Girişimcilere Tavsiyeler: Yatırımcıyı Nasıl İkna Edersiniz? Türkiye startup ve venture capital ekosisteminin geçmişini, bugününü ve nereye gidebileceğini anlamak isteyen herkes için çok dolu bir bölüm. İyi seyirler.

In this episode of TRVC – The Turkish VC Podcast, Yunus Çelebiler sits down with İhsan Elgin, Managing Director at Finberg and Managing Partner at Oleka Capital, to discuss the evolution of venture capital in Turkey — and why the next phase of the ecosystem will look very different from the last five years.İhsan shares his journey from corporate executive at Koç Group to startup founder (with a U.S. exit), to launching one of Turkey’s first accelerator programs, and ultimately building Finberg into one of the country’s most active venture platforms. He explains how Finberg started as a $5M fintech-focused fund and achieved a 5x return in just 3.5 years — and how that early success shaped its expansion into thematic funds and a fund-of-funds strategy.The conversation then turns to Oleka Capital, a growth-stage investment platform designed to address one of the biggest structural gaps in the Turkish ecosystem: the lack of institutional growth capital with real operating expertise. İhsan outlines Oleka’s approach — combining a core growth fund, SPVs for larger tickets, and venture debt/private credit solutions — to provide “growth financing,” not just capital.Key topics in this episode include:Why Turkish startups must expand regionally (GCC, Eastern Europe, CIS) How cash returns now matter more than paper valuationsWhy the zero-interest-rate era distorted venture investingThe coming shakeout among Turkish VC fundsFounder-friendly vs investor-friendly markets — and why we are entering a more balanced phaseCapital efficiency, financial discipline, and why unit economics are non-negotiableBuilding value creation plans before investingReverse-engineering exits before writing a checkİhsan also discusses how trust between founders and investors weakened during the boom years — and why rebuilding that trust is essential for the ecosystem’s next chapter.This episode is a deep dive into the structural evolution of Turkish venture capital — less about hype, more about fundamentals.If you are a founder, investor, LP, or operator building in Turkey and the surrounding region, this is a conversation you don’t want to miss.—About TRVC:TRVC (The Turkish VC Podcast) explores venture capital, startups, and technology in Turkey and the broader region. Hosted by Yunus Çelebiler, TRVC features leading founders, investors, and operators shaping the ecosystem.Subscribe for weekly conversations with the people building the future of Turkish tech.

Bu bölümde TRVC – The Turkish VC Podcast’te, dünyanın en büyük ve en etkili venture capital fonlarından biri olan General Catalyst’in Avrupa partnerlerinden Zeynep Yavuz ile derinlikli bir sohbet gerçekleştiriyoruz.Yaklaşık 30 milyar dolarlık yönetilen varlığa sahip General Catalyst; Stripe, Airbnb, Warby Parker gibi şirketlerin erken dönem yatırımcısı olarak biliniyor. Zeynep Yavuz ise Londra merkezli olarak Avrupa’daki yatırımlara liderlik eden üç partnerden biri.Bu bölümde yalnızca fonları ve rakamları değil;iyi bir girişimci nedir, iyi bir iş modeli nasıl görünür, seed aşamasında neye bakılır ve AI önümüzdeki 5–10 yılda hangi sektörleri gerçekten dönüştürecek gibi konuları konuşuyoruz.🎯 Bu bölümde neler var?🔹 Zeynep Yavuz’un kariyer yolculuğu University of Chicago’dan investment banking’e Growth equity (TA Associates) deneyimi Startup içinde product leadership Sonrasında General Catalyst’e uzanan yol🔹 General Catalyst nasıl çalışıyor? Seed’den pre-IPO’ya aynı yatırımcıyla ilerleme modeli Neden bu kadar az VC bunu yapabiliyor?Fon büyüklüğünün yatırım stratejisine etkisi🔹 “İnsan, her şeyden önce insan”Seed aşamasında neden sektör değil founder önemli?“Ne kuruyorsun?” değil “Neden kuruyorsun?” sorusuFounder–market fit ve otantiklik🔹 Türkiye ve Avrupa ekosistemine bakışTürkiye’de gaming başarısının arkasındaki “akademi şirketleri”Avrupa’da exit ve IPO problemleriTek Avrupa borsası mümkün mü?🔹 CVF: Equity dışı büyüme finansmanıUser acquisition financing nedir?Gaming ve consumer app’ler için neden game changer?Neden dilution yok, warrant yok?🔹 En kritik trend: AI ile servislerin dönüşümüCall center’lar, sigorta, muhasebe, emlak, servis şirketleri Neden yazılım satmak yetmiyor?Neden General Catalyst servis şirketlerini satın alıp AI deploy ediyor?VC + PE hibrit yeni model🔹 Kitap & podcast önerileriInvest Like The BestAcquiredTransformation Principles – Hemant TanejaThe Alchemist (Simyacı) ve belirsizlikle yaşamak

In this episode of TRVC, I sit down with Haluk Nişli, General Manager of Inveo Ventures, one of Turkey’s most active and forward-thinking corporate venture capital funds. We discuss Haluk’s career journey through StartersHub, his hands-on experience as an operator at Thread in Motion, and his return to venture through the formation of Inveo Ventures.We dive deep into what makes Inveo different from traditional CVCs — their sector-agnostic strategy, their unique balance between corporate roots and VC flexibility, and their ambition to become the most effective CVC in the region. Haluk also shares how they support startups with more than just capital: offering perks, follow-on fund relationships, IPO readiness support, and international exposure.We also dive into challenges for Turkish startups, what makes a real tech company, and why Inveo wants to be a long-term regional thought leader.⏱️ Chapters00:00 – Intro & guest welcome01:30 – Haluk's background: from StartersHub to Thread in Motion04:40 – Founding of Inveo Ventures and ties to Gedik Yatırım06:10 – What makes Inveo a different kind of CVC08:00 – Sector focus: fintech, cybersecurity, B2B SaaS09:20 – Defining a “real” tech startup11:00 – Fund structure: evergreen & open to outside LPs13:40 – Fund-of-Funds strategy and co-investments15:30 – Turkish cybersecurity talent and startup potential18:00 – Exit landscape: IPOs, Borsa Istanbul, and Haluk’s IPO dream20:50 – How Inveo adds value beyond capital23:30 – Common challenges for Turkish startups26:00 – Inveo’s vision for regional leadership in venture28:10 – Myth.ai and the thesis behind their AI/fashion investment30:00 – Advice for founders & long-term thinking32:00 – Books, stories, and why patience matters🔗 Subscribe to TRVC for deep dives into the Turkish venture ecosystem.🎧 Available on Spotify, Apple Podcasts, and all major platforms.#InveoVentures #TRVC #TurkishVC #CorporateVentureCapital #HalukNişli #StartupsTurkey #VCInsights #TRVCPodcast #Fintech #Cybersecurity #EvergreenFund #GedikYatırım #VentureCapital #TurkishStartups

Discover how Türkiye is attracting globalinvestment into its startup ecosystem. In this TRVC episode, A. BurakDağlıoğlu, President of the Investment and Finance Office of the Presidency ofthe Republic of Türkiye, also known as Invest in Türkiye, shares insights onventure capital, foreign direct investment (FDI), and why Türkiye is becoming ahub for tech startups and regional champions.  We cover the journey of the Investment andFinance Office, its role in attracting international capital, and how publicpolicy, sovereign wealth funds, and development banks are shaping theecosystem. Dağlıoğlu shares insights on Türkiye’s unique advantages—talent,demographics, geography—and explains why the focus is shifting from countingunicorns to building regional champions. If you’re a founder, VC, or investorcurious about opportunities in Türkiye, this is a must-listen episode packedwith data, strategy, and vision. 📌 Chapters00:00 – Title & intro00:00:06 – Welcome & guest intro (A. BurakDağlıoğlu)00:00:29 – Career path to the Presidency00:01:13 – What the Investment &Finance Office does00:02:04 – Global footprint & network(US, Europe, Gulf, Asia)00:03:23 – FDI trends & the shift totech00:04:11 – Roadshows & investoroutreach (since 2015)00:05:40 – Funding growth: $100M → $5B00:06:49 – Why Türkiye is attractive:talent, scale, geography00:07:00 – Key sectors: AI, SaaS,FinTech, HealthTech & more00:10:21 – Policy & incentives:Technoparks, R&D zones, grants00:12:08 – Challenges at Series A+ &exits00:16:09 – Regional champions vs.unicorns00:22:01 – Wealth Fund & DevelopmentFund (TTF, BIGG)00:28:12 – Diaspora & dual-hubstrategy00:29:58 – Alternative markets: Africa& Central Asia00:31:45 – Advice for internationalinvestors (engage, co-invest)00:34:45 – Reasons for optimism: youth& mindset00:37:30 – Closing & thanksAbout TRVCTRVC – The Turkish VC Podcast exploresTürkiye’s venture capital ecosystem through conversations with founders,investors, and ecosystem leaders. Hosted by Yunus Çelebiler, the podcast bringsglobal perspectives to one of the most dynamic emerging markets.

Hüseyin Oğuz ile girişimcilikten exit’e, oradan da bugün erken aşama girişimcilere fundraising danışmanlığı yapmaya uzanan yolculuğunu konuştuk.Samimi sohbetimizde Hüseyin şu deneyimlerini paylaşıyor:- Ekmob SaaS girişiminde 6. çalışan olarak başladığı günler- Late founder olarak girdiği Pulpo AR'ı ABD’de halka açık bir şirkete exit etme süreci.- Neden erken aşama girişimciler için fundraising ve M&A danışmanlığına ihtiyaç duyulduğunu görüp bu işe başladığını.- Türkiye’de fundraising’in gerçekleri ve yabancı yatırımcıların bölgeye bakışı.- Yapay zekânın girişimlerin yatırım süreçlerini nasıl hızla dönüştürdüğü.Hem kurucular hem yatırımcılar için, hem de Türkiye’deki girişimcilik ekosisteminin geleceğini merak eden herkes için keyifli ve öğretici bir sohbet oldu.🎧 Türk girişimcilik ekosisteminin kalbinden daha fazla sohbet için TRVC'yi takip edin!Bölümler:00:00 Giriş05:09 İlk kariyer adımları ve startup deneyimleri10:09 Pulpo AR’nin kuruluşu ve exit hikâyesi15:09 Hüseyin’in fundraising danışmanlığına başlaması20:11 Erken aşama fundraising neden bu kadar zor?25:15 Yabancı yatırımcıların Türkiye’ye ilgisi30:15 Kurucuların hikâye anlatımında yaptığı hatalar35:17 Girişimcilikte direnç ve ısrar arasındaki fark40:23 Sağlık, mindset ve uzun vadeli başarı45:28 Yapay zekâ fundraising dinamiklerini nasıl değiştiriyor50:28 Önerdiği kaynaklar

In this episode of TRVC – The Turkish VC Podcast, host Yunus Celebiler sits down with Merve Zabcı, General Partner at Metis Ventures, one of Turkey’s pioneering data-driven venture capital firms. Merve shares her journey from engineering to venture capital, and how her career path through investment banking, PE, and family office investing prepared her to launch and lead Metis Ventures.Topics Covered:The origin story of Metis Ventures and its differentiated data-first approachWhy Turkey and the broader region present untapped opportunities for VCInsights into how data and structured processes can drive early-stage investingHow Metis Ventures is building not just a fund, but a long-term platform from pre-seed to IPOMetis is a rising star VC firm in Turkey and the region. Don't miss this inside peak into how they are building and growing.⏱️ Chapters IntroductionMerve’s background and early careerFrom family office investing to launching Metis VenturesThe thesis behind a data-driven VC firmTrends in Turkish and regional startup ecosystemsAdvice to founders on working with data-centric investorsThe future of Metis Ventures and regional VC

Bu bölümde konuğumuz Multiple Capital’in kurucusu ve yöneticisi Ertan Can. Avrupa'da "fund of funds" modeliyle girişim sermayesi fonlarına yatırım yapan Multiple Capital’in yaklaşımını, Ertan Bey’in kariyer yolculuğunu ve Türkiye girişim ekosistemine dair görüşlerini konuşuyoruz.Kariyerine Frankfurt ve Londra’da başlayan Ertan Can, bir aile ofisinde çalışırken girişim sermayesiyle tanıştı. Erken aşama yatırım yapmanın zorlukları, Avrupa’daki yatırım trendleri üzerine samimi bir sohbet gerçekleştirdik.Türkiye’de girişimcilik ve yatırım alanında küresel bağlantıların güçlendirilmesi üzerine ilham verici bir bölüm!

Host Yunus Celebiler sits down with İnalcan Guleç, Senior Associate at Eksim Ventures, the corporate venture capital arm of Eksim Holding. They dive deep into how a legacy company in food, energy, and infrastructure is now investing in cutting-edge startups — both in Turkey and globally.From the move of Eksim Holding into VC, to how corporate venture capital operates differently from traditional VC, to startup lessons from inside a B2B SaaS rollercoaster — this episode is packed with insights for founders, investors, and anyone curious about the evolving Turkish startup ecosystem.🔖 Keywords & TagsEksim Ventures, Corporate VC, Turkish startups, Venture Capital in Turkey, Inalcan Guleç, TRVC podcast, Eksim Holding, Dicle Elektrik, Clean Energy VC, FoodTech, B2B SaaS, VCIF, GSYF, Startup investing, Corporate innovation, Turkish ecosystem, TRVC

Bu bölümde konuğumuz, Silikon Vadisi’nde hem seri girişimci hem de melek yatırımcı olarak tanınan Şahin Boydaş. Amerika’da doğup Türkiye’de büyüyen Şahin, iki kültürü de derinlemesine tanıyan biri olarak girişimcilik ve yatırımcılık alanında benzersiz bir bakış açısı sunuyor.Bu TRVC'nin ilk Türkçe bölümüdür. Zaman zaman yurt dışında Venture Capital (Girişim Sermayesi) ve startup ekosistemlerinde çalışan Türkleri, yurt dışındaki ekosistemlerde edindikleri tecrübelerini paylaşmak üzere Türkçe olarak bölümler çekiyor olacağız.This is the first TRVC episode in Turkish. From time to time, we’ll be publishing episodes in Turkish that feature Turks working in venture capital and startups ecosystems abroad. These conversations aim to share the insights they've gained from global ecosystems — for a Turkish-speaking audience.In this episode, we sit down with Şahin Boydaş, a Turkish-American serial entrepreneur & angel investor in Silicon Valley. He shares his unique journey in the startup world and offers valuable insights on what it takes to succeed as an angel investor, both in Turkey and internationally.

🎙 TRVC #12 — Ali Çebi: Crowdfunding, Startups & VC in TurkeyIn this episode, Yunus Çelebiler sits down with Ali Çebi, the co-founder of Fongogo, Turkey’s pioneering crowdfunding platform that has evolved into a multi-faceted fundraising ecosystem for startups.Ali shares his personal journey from Wall Street investment banking to becoming a key player in Turkey’s early-stage tech financing scene. We dive deep into the evolution of crowdfunding in Turkey, how Fongogo navigated early regulatory challenges, the rise of angel investing, and why democratizing startup investment is critical to building a robust entrepreneurial ecosystem.Ali also discusses the launch of their VC fund, how crowdfunding prepares startups for IPOs, and their goal of creating a “one-stop shop” for startup financing — from rewards-based to equity crowdfunding and eventually peer-to-peer lending.This episode is packed with insights for founders, investors, and anyone curious about how venture capital and crowdfunding intersect in emerging markets.📍 Location: StartGate Studios, Maslak, Istanbul👤 Guest: Ali Çebi, Co-Founder of Fongogo🎧 Host: Yunus Çelebiler⏱ Chapters00:00 - Intro: Welcome to TRVC Ep. 1200:20 - Who is Ali Çebi? Finance background & INSEAD01:56 - Shift from investment banking to entrepreneurship03:10 - Discovering angel investing in Turkey05:00 - Turkey’s early VC scene & Golden Horn06:30 - Birth of Fongogo: From Kickstarter to local crowdfunding09:15 - Crowdfunding’s regulatory evolution12:00 - Rewards-based vs. equity crowdfunding14:35 - Fongogo’s three verticals and roadmap17:00 - Creating a one-stop startup funding ecosystem19:25 - The Fongogo VC Fund: Strategy & vision22:00 - Fundraising challenges for Turkish startups25:30 - The hybrid fund model: Merging VC & crowdfunding28:00 - IPO as the new exit path in Turkey30:15 - Opportunities & barriers for foreign investors32:20 - How Turkey's ecosystem is maturing35:00 - Cultural edge: Resilience of Turkish entrepreneurs37:00 - Why early-stage funding matters most39:00 - Fongogo’s thesis: Focused, practical, local exits41:00 - Final thoughts & rapid-fire Q&A👍 Like, share, and subscribe to TRVC for more deep dives with founders, investors, and builders shaping Turkey’s venture capital and startup scene.

Yunus Çelebiler sits down with Dilek Dayınlarlı, Founding Partner of ScaleX Ventures, one of the first Turkish VC funds dedicated to helping enterprise software startups scale globally from day one. With more than a decade in venture, Dilek has been an early backer of Turkish tech champions like Insider, İyzico, Picus Security, and DataRow, and has built a cross-border investment thesis that blends Silicon Valley scale with Turkish engineering excellence.We dive deep into Dilek’s journey from engineering and telco to launching ScaleX, the lessons she’s learned building a venture firm during COVID, and why she believes Turkey is at an inflection point for producing global category leaders.This is a must-listen for anyone interested in venture capital, Turkish startups, deep tech, or scaling from emerging markets to the U.S.👇 Chapters00:00 – Introduction01:00 – Dilek’s path into venture capital04:00 – Early bets: İyzico, Insider...07:30 – Why enterprise SaaS and global-first10:00 – Silicon Valley & Kauffman Fellowship13:00 – FoundingScaleX during COVID16:30 – Talent: bridging Bay Area and Turkey19:00 – Go-to-market, and dev tools strategy22:00 – Fund value-add: founder networks25:00 – Motivation and impact: creating wealth through tech28:00 – Investing in deep tech and frontier founders31:00 – Fund strategy and LP evolution from Fund 1 to Fund 235:00 – Turkish VC ecosystem today: challenges and opportunities38:00 – Reflections on being a long-term, adaptive investor41:00 – Book recommendations: The Power Law & Superforecasting44:00 – Stock options and wealth creation in emerging markets46:00 – Final thoughts & shout-outs🔗 Follow for more conversations on the future of VC in Turkey and beyond.

Legendary Turkish-American entrepreneur Kerim Baran, the founder of Yonja—Turkey’s pioneering social network—and co-founder of CivicSolar, a U.S.-based solar distribution company that scaled to $60M in revenue without raising venture capital.Kerim opens up about his early years growing up in Turkey, his move to the U.S. for college, and his experiences working in the tech industry during the original dot-com boom. He discusses his time at major tech firms like Sybase and Siebel Systems, and shares the origin story of Yonja.com—a social network that briefly outpaced Facebook in Turkey before ultimately being acquired by Tiger Global.After Yonja, Kerim took time off to explore and reflect, which led him to angel investing and eventually into the solar industry. He shares how he co-founded CivicSolar, initially envisioned as an eBay-like marketplace for solar equipment, but which evolved into a highly efficient drop-shipping distributor serving thousands of installers across the U.S. With deep insight, Kerim explains the economics of solar energy, including Swanson’s Law, the declining cost of solar panels, and the transformative power of distributed energy systems.The conversation then turns to his investment thesis in clean tech. Kerim reveals his unique three-pronged model:- SolarAcademy.com – a social knowledge platform where founders, thought leaders, and innovators in solar share their ideas and solutions.- Seed investments in solar SaaS and platform companies—such as Ivy Energy, which enables solar for multi-tenant buildings by solving the "split incentive" problem.- Infrastructure capital - deploying capital into solar and storage assets that offer attractive returns while decarbonizing the grid.Kerim also shares his vision for the future of clean energy, his critique of traditional utilities, and why he believes distributed solar plus battery systems will ultimately outcompete centralized solutions like nuclear for mainstream users. He closes the episode reflecting on Turkey’s solar journey, where he once advocated for solar adoption at the highest levels of government—and shares why he remains optimistic about Turkey’s future energy transition.This is an inspiring deep dive into entrepreneurship, impact investing, and the future of solar energy—from a founder who’s been ahead of the curve in every wave.Chapters:00:00 – Intro & Early Career06:00 – Founding Yonja.com13:00 – Yonja’s Exit & Reflections17:00 – Discovery of Solar & CivicSolar’s Growth26:00 – Distributed Solar vs. Utility Power32:00 – SolarAcademy, Ivy Energy & Investment Strategy38:00 – Clean Tech in Turkey & Vision for the Future,

Aslı Kurul Türkmen, Head of Endeavor Turkey shares her journey into the startup ecosystem, the mission of Endeavor, and how it's helped shape high-impact entrepreneurship in Turkey. Aslı shares valuable insights on founder support, scaling startups, and the evolution of the Turkish venture landscape. A must-listen for anyone interested in innovation, leadership, and ecosystem building.The book Asli Kurul Turkmen recommends in the podcast is: Crazy Is a Compliment The Power of Zigging When Everyone Else ZagsBy Linda Rottenberg

Sina Afra — serial entrepreneur, investor, and one of the most influential figures in Turkey’s startup ecosystem, from founding Markafoni, to making 55 angel investments and achieving 12 exits. Sina shares an unfiltered look at:Why he left corporate life for startupsHow Turkey's VC and startup scene has evolvedFounder One, Turkey’s first impact-focused VC fundLessons from investing in startups like Dollar Shave ClubWhat’s broken in Turkish venture capital and how to fix it👉 Whether you're a founder, investor, or curious about startups in emerging markets, this is a must-watch

Cem Baytok, co-founder and GP of Ida Capital joins TRVC to talk about what it really takes to build a venture firm from the ground up in Turkey — and why he’s betting big on fintech, emerging markets, and revenue-based financing.We cover:💸 How Ida Capital led to a startup then back to VC again🌍 Why Central Asia and Africa are the next frontiers📈 How listening to LPs changed his fund🚧 The biggest challenges Turkish founders face🧠 And why too much capital, too early, can hurt more than helpThis is an episode packed with wisdom, hard-won lessons, and contrarian insight from someone who’s been in the trenches for over 30 years.🎧 Listen now and Follow for more deep dives into the Turkish and emerging market venture scene.

Mine Dedekoca, Venture Partner at Treeo VC, a US based fund focused on Turkish entrepreneurs growing their business in the US, and founder of Startist. We explore her journey from launching her own startup to becoming a player in the heart of Turkey's startup ecosystem. Mine shares insights on:- How Turkey’s startup scene evolved since 2012- Treeo VC’s mission to back immigrant and Turkish founders in the U.S.- Understanding customer differences when entering the US market- The untapped potential of Turkish tech talent- Turkey’s rise as a hub for digital nomads with new visa programs- The Global Startup Awards and how Istanbul is gaining global attentionPacked with advice for founders, VCs, and ecosystem builders — this episode is a must-listen for anyone tracking Turkey's global startup journey.

Bulent Celebi, seasoned entrepreneur and angel investor with deep roots in the Turkish tech ecosystem, shares his journey from growing up abroad to returning to Turkey in 2004 to found Airties, a pioneering wireless technology company that was recently acquired by private equity. With rich insights into building and scaling a tech company in Turkey, he reflects on the evolution of the startup landscape, lessons from leadership, and his experience as an investor and board member.We discuss:What inspired him to start AirtiesNavigating the startup ecosystem in Turkey in the early 2000sHis transition from founder to investorAdvice for aspiring entrepreneursThe future of tech and investment in the regionThis episode offers a front-row seat to the story of a visionary who helped shape Turkey’s digital infrastructure and continues to support the next generation of innovators.If you enjoy the episode, please like, give 5 stars, follow etc. Also feel free to connect with me on LinkedIn.

Enis Hulli, GP and founder of e2vc, joins us as they raise Fund III. This episode is packed with insights: Enis's view on choosing (or not) sectors. Why Turkey and Emerging Europe offer a stronger VC landscape than France or Germany. e2vc's thesis, how they think about deal sourcing. Where they will go from here to grow the firm both geographically and in terms of products. Advice for emerging managers raising a first fund. And so much more.

Ali Karabey, founder of 212, one of Turkey's first venture capital firms, sheds light on Ali's journey from being a banker and consultant to pioneering venture capital in Turkey. The conversation spans the inception of 212, the challenges of raising funds, the importance of mentorship, and analyzing the market potential in Turkey and beyond. Learn about 212's investment strategies, successful exits, and the dynamic growth of the Turkish startup ecosystem. Listen in for valuable insights and inspiring stories from the evolving world of Turkish venture capital.

Baran Kılıçer, of Yıldız Technical University technology park venture capital trust, gives us a deep dive into a particularity of the Turkish startup ecosystem: the universtiy technology parks.Baran has a background in investor relations before joining Yıldız Technical University technology park and helping to launch their venture capital trust. Baran also shares some stories of some of the most common bottlenecks facing Turkish startups in growing globally. A great primer on some of the idiosyncracies of the startup ecosystem in Turkey.

In this inaugural episode of the Turkish VC podcast, Yunus talks with Berk Üder of Stargate to hear about the firm's view on the Turkish gaming industry, and their unique approach running a gaming focused incubator. Berk has a background as an entrepreneur in tech and mobile marketing, and shares how the industry has evolved in the region. We also cover his philosophy and passion for supporting entrepreneurs, and how as an incubator Stargate aims to help guide and mentor the next wave of successful gaming startups.