Revo launches second fund

The firm is understood to have secured approximately 35% of the target commitments to date.

After launching an office in Estonia, the VC plans to deploy 30-35% of its new fund's capital in eastern Europe.

Its first fund primarily targeted Turkish startups and closed on $66m in 2016. The first fund was backed by the European Bank for Reconstruction and Development, International Finance Corporation and 28 other investors that are comprised of conglomerates, family offices and high-net-worth private individual investors from Turkey and Europe. It expects more family offices from Turkey and Europe to participate in the second fundraising process.

So far, Revo has invested in seed rounds, but will expand its scope in the second fund to focus more on series-A and further rounds with a ticket size between €1-2m.

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