Turkven Private Equity Fund III

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The EBRD is considering providing an equity investment of up to €50 million to Turkish Private Equity Fund III. (“TPEF III” or the “Fund”), a private equity investment fund to be registered as a Guernsey limited partnership. The Fund will seek to achieve long-term capital growth by providing €25 – 75 million per deal of buyout or expansion capital to leading Turkish mid-market companies operating in growth industries and generating revenues of €40 – 200 million. The Fund Manager is expected to achieve strong transition impact through: (i) Accelerating the growth and development of high potential Turkish middle-market companies through the provision of expansion capital and operational support. (ii) Increasing the profile of private equity as a valuable source of capital to entrepreneurs. (iii) Demonstrating the attractiveness of Turkey as a private equity investment destination. The Fund will be managed by Turk Venture Partners III Limited (the “GP” or “Fund Manager”), a Guernsey limited company. Turkven is the most experienced and longest established independent private equity firm in Turkey. Since its founding in 2000, it has built the largest Turkish on-the-ground presence of any private equity firm and developed an extensive track record of hands-on working with its portfolio companies on operational issues. Equity investment of USD 25 million. The target size of the Fund is USD 840 million. Categorised FI. The Fund will be required to comply with EBRD Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries) and implement the EBRD's Environmental and Social Procedures for Active Equity Investments. The Fund should ensure investee companies comply with national environmental, OHS, social and labour standards. The Fund will be required submit annual environmental and social reports to the Bank. None. Seymur Tari, Managing Director Turkven Private Equity Muallim Naci Cad No. 40 Ortakoy Istanbul Turkey 34347 Tel: +90-212-326-8400 Fax: +90-212-326-8484 The Bank’s investment in Turkish Private Equity Fund III (Turkven III) helped the fund manager, Turkven, reach the desired target fund size. During the investment period, the fund made 9 corporate equity investments in Turkish companies, providing scarce equity funding coupled with the value-added assistance of the management team. The fund is presently in harvesting mode and as of mid-2023 has produced a number of exits. The project also ensured the adherence to strict environmental and social standards. In terms of Transition Impact, the Project has contributed to the overall expansion of capital markets, provided scarce equity funding, and improved the competitiveness and corporate governance of the fund’s investee companies.