• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • GPs

VC firm 212 to deploy EUR 32m in two years, gears up for exits

  • Erdinc Ergenc
  • 13 October 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

212, a venture capital firm focusing on Turkey, eastern Europe, the Middle East and north Africa, is looking to conduct five to eight further investments, with EUR 32m left in its latest fund to deploy.

The sponsor has already deployed EUR 17m in 13 investments from its EUR 49m second fund, which closed in August 2020. The objective is to increase the portfolio to 18-21 businesses by 2025, managing director Ali Karabey said.

Around 65% of the fund is expected to be invested in growth-stage startups, with the balance directed towards early-stage businesses. The fund has a sector-agnostic approach and invests between EUR 750,000 and EUR 5m in exchange for 5-20% stakes.

The vehicle has a five-year investment period and a 10-year lifespan with a three-year extension, according to Karabey. It welcomes co-investment from other private equity or VC firms, he added.

The European Investment Fund (EIF), Qatar Development Bank (QDB) and Turkey Development and Investment Bank (TKYB) are the lead investors in the second fund, alongside a mix of institutional investors and family offices.

Fund I exits
212 plans to exit three portfolio companies from its USD 30m debut fund in the next one to three years, Karabey said.

The businesses are Insider, a Singapore-based software-as-a-service marketing platform; Solvoyo, a Boston, Massachusetts-based provider of end-to-end supply chain planning and analytics platform; and HotelRunner, a UK-based accommodation distribution platform for hotels and travel agencies.

212 is in no hurry to exit Insider, which is nearing unicorn status and should provide large returns to the VC firm, Karabey said. The sponsor saw the company's valuation grow by more than 50 times since its first round of investment in Insider in June 2016, he said.

Fund I's only exit so far was the sale of digital payment company Iyzico to Netherlands-based peer PayU in June 2019 for a consideration of USD 165m, which provided a return equal to 90% of Fund I's total size of USD 30m, according to Karabey.

Fund I invested in 12 startups, with three still active and the rest having seen either small exits or no longer operating, Karabey said.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • GPs
  • Venture
  • CEE
  • Venture
  • Turkey

More on GPs

EU foreign subsidies regulations
EU FSR could impact PE fundraising with potential rise in ‘clean funds’

FSR could lead GPs to create funds without foreign LPs; red tape around sovereign wealth funds likely

  • Regulation
  • 01 September 2023
Jan Cerny of BHM Group
BHM Group builds on PE strategy, eyes European medtech and renewable energy acquisitions

Czech Republic-headquartered family office is targeting DACH and CEE region deals

  • Investments
  • 01 September 2023
Bettina Curtze of Redalpine
Redalpine expands leadership team amid CHF 1bn-plus fundraise

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

  • Venture
  • 31 August 2023
Canary Wharf and the financial centre of London
IPO offers CVC chance to become multi-asset consolidator

Potential IPO also offers monetisation solution for founders and GP stakes investor Blue Owl

  • GPs
  • 25 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013