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About Revo Capital

We are the largest VC in Turkey. At the end of 2013 we raised our inaugural fund of $66M. In September 2021 we closed our oversubscribed second fund of €90 million. We invest in truly innovative, early-stage B2B or B2C technology ventures in Turkey, Eastern Europe and the Baltics and so far, made 40 investments and 17 successful exits to date.

Our client is the entrepreneur. What distinguishes us is our closeness to founders and we are truly a member of the team. Our principle is not to create work for the entrepreneur, but to take weight off them.

We Understand the Journey an Entrepreneur Takes

We assembled a team from diversified backgrounds with entrepreneurial spirit and product, business and finance experience.

Startups need the right skills, guidance, management discipline, and structure to sail smoothly amid growth opportunities and unpredictable challenges. We work with founders across their growth lifecycle and walk with them through the complete journey from investment to exit.

Our Investors

We are the only fund in the region supported by all the leading DFIs
European Bank
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Our Vertical Focus


Optimize & automate financial processes and services including mobile banking, insurance, and investment applications.

B2B Cloud

Innovative & business model-driven enterprise and SME-focused cloud businesses


SaaS-enabled C2C, B2C, and B2B online marketplaces

Big Data & AI

Insights & automating tasks. Integrating these technological advantages into organizations future-proofing their business models.

Marketing tech

Reshaping marketing through digital and omnichannel solutions

Health IT

Emphasis on software solutions in analytics, diagnostics, monitoring & management


What is Revo's typical investment stage and ticket size?

Our initial ticket size is between $1 million and $6 million in post-seed to Series B rounds. Historically our average ticket size is around $2 million.

We’ve taken between 5% and 20% in initial investments. On average we take about 12% in the companies we invest in.

We prefer B2B software business models across Fintech, Healthtech, Insuretech, Marketplaces, Martech and Big Data & AI verticals.

We’re not limiting ourselves to specific industries, though, e.g. we’ve invested in D2C and hardware before and we are also exploring web3 –  which is outside of our main scope.

Revo is a Netherlands-based fund and our capital comes from 20+ institutional investors. Our cornerstone investors include IFC (International Finance Corporation), EBRD (European Bank for Reconstruction and Development), TGIF (Turkish Growth and Innovation Fund) and DEG (the German Development Finance Institution). You can read more in our Fund II announcement.

We like to be the early believers and preferably one of the first institutional investors in your company.

We’ve led around 50% of the startup rounds we participated in. In others we were either a co-lead or a smaller investor.

We don’t usually lead the follow-on rounds of our portfolio companies.

However, we try to always co-invest pro-rata in the following rounds.

We can invest up to $9 million in a single startup throughout its whole lifecycle.

Team, team, team, team… and then the market and the traction. In that order.

We usually like to get to know you a bit before making a call and we need to see more customer validation and traction (as in first revenues, proof of concept, etc).

IT startups with the potential to reach a capitalization of $100M+ and the market size of $1B+ is a must. First customers and users increase the chance to fall into our pipeline.

We are committed to working closely with our portfolio companies with our unique hands-on approach that encompasses all aspects of the business and have a significant impact on each of our founder’s journey.

We actively support our founders & their team on marketing, finance, team/hiring, business development and also fundraising and connecting them to people in our network around the globe.

We’re proud to be investors in 40 amazing startups so far.

You can check out our portfolio companies on this website.



SFDR Disclosure:
The wording below constitutes Revo Capital’s disclosures in accordance with the EU Sustainable Finance Disclosure Regulation (2019/2088) (SFDR), for acting as fund manager under the EU Alternative Investment Fund Managers Directive (2011/61/EC), as implemented in article 2:65 of the Dutch Act on the financial supervision (Wet op het financieel toezicht)..

In its business operations Revo Capital stands for ‘good citizenship’, positioning itself as a venture capital firm that appreciates long term relations, pursuing sound returns, without thereby striving for specific sustainability objectives. Revo does however have an Environmental & Social (E&S) Policy and an E&S Procedure, thereby committing to avoid investments in portfolio companies that are earmarked by some of its investors as having a material adverse E&S impact. The E&S Procedure prescribes to observe exclusion lists, as maintained by some of our LPs, and to identify and assess material E&S risks in the course of due diligence on portfolio companies. Following the due diligence, Revo classifies its portfolio companies as either ‘no E&S risk’, ‘no E-risk, low S-risk’ or ‘unacceptable E&S risk’. The E&S Procedure includes ongoing monitoring during the relationship with our portfolio companies. We add that, given Revo’s investment focus on early-stage tech companies and its plain vanilla VC products / services (equity or near equity), the inherent E&S risks associated with its portfolio companies are in general remote.


We add that our portfolio companies, given Revo’s investment focus on early-stage tech companies, are in general small and therefore, upon investment, they lack the scale for applying commonly accepted good corporate governance standards. Revo will however use best efforts to have such standards adopted by its portfolio companies along with the growth of their organizations.

No consideration of adverse impacts of investment decisions on sustainability factors

In line with Article 4, Subsection 1(b) of the SFDR, Revo explicitly declares that it does not consider adverse impacts of investment decisions on sustainability factors as outlined in Article 4, Subsection 1(a) of the Regulation. Consequently, Revo does not disclose information as described in Article 4, Subsection 1(a) of SFDR. Given the small size of Revo’s organization and the fact that, based on Revo’s investment focus, the E&S risks are inherently remote, such disclosure and the administrative burden in connection therewith, are considered disproportionate.

Remuneration Policy

Revo implements fair remuneration principles, whereby its staff receives fixes salaries and variable remuneration is aligned with the long-term interest of its investors (‘carried interest’). Incidental individual bonusses may occur, but never based on short term commercial goals or on excessive risk-taking.

Based on its investment profile as described in the disclosure, Revo concludes that as asset manager, and its funds under management, it qualifies as an Article 6 investment firm.

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