Abraaj secures minority stake in Turkey's Hepsiburada

The stake was worth $100m, according to the Financial Times. The investment is the first from Abraaj's $500m Turkey-focused fund.

Abraaj will also invest in Evmanya and Altincicadde, two smaller online subsidiaries of Hepsiburada, which sell furniture and home accessories.

The GP acquired its stake from Hepsiburada's owner, the Doğan family, who own a controlling stake in Turkish conglomerate Doğan Group.

Abraaj will look to implement a value creation plan developed with Hepsiburada's management team, while also improving the company's IT infrastructure, customer service and mobile offering.

Company
Hepsiburada is a Turkish e-commerce business that offers more than half a million products, including mobile phones, cosmetics and IT hardware.

Hanzade Dogan Boyner and her sisters bought out Hepsiburada's previous owners in 1999, renaming the company in the process.

Hepsiburada operates in Turkey, eastern Europe, the Middle East and Russia, and had net revenues of TRY 1bn (€356m) in 2014.

The company has increased its revenues 25-fold in the past 10 years and has more than 14 million unique monthly visitors.

People
Selçuk Yorgancıoğlu is a partner and the regional head of Turkey and Central Asia at The Abraaj Group. Hanzade Doğan Boyner is the executive chairwoman of Hepsiburada.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• CEE
• Expansion
• Consumer
• Turkey
• Abraaj Capital
• Minority investing