Grandstanding TractionGrandstanding TractionA Turkish Private Equity Weekly - In an effort to cover the Turkish Private Equity Industry - for the promotion of Entrepreneurship, the private equity asset-investment model, and the communication therof. Articles
Tech Investments in Turkey as of 2008: Innovations Thinking Local or Going
2008-02-17 22:16:00 In January, trendsspotting posted about a survey they did with various VC's regarding the next big trends for 2008. They then compiled them into a tag cloud to flesh out the major issues. Their conclusions for 2008's upcoming trends were: "Applications, green, mobile, networks, open, social" Not suprising given the latest popularity of social networks, greentech, mobile applications, and the community aspect of any open-source technology. Take for example Facebook's new markup language to play with its API - FBML. Lately, Silicon Valley (Dave Hornik's podcast on VentureBlog for one) and Facebook have been talking about an "XML-like" or open source community platform that will be able to integrate all communities into, what is now being coined, your "Social-graph" - a play on words with demographics. So we will only have to make one profile, instead of many, that will follow us around the Net. So, although I'm not using Facebook, you will still be able to add my Linkedi... More About: Turkey , Tech , Innovations , Local , Investments
Turkish Mobile Applications Provider Pozitron Wins Harvard Business School'
2008-02-10 21:12:00 It seems my friends at Pozitron, who I posted about in June 2007, have won the HBS Global Business Plan Competition. The news has been posted courtesy of Dan Primack of PEHub, who judged at the event. Pozitron (www.pozitron.com), a mobile and alternative communications solution provider based in Turkey, won the Global Business Plan Contest sponsored by the Harvard Business School ’s Entrepreneurship Club on January 27. It was the first contest of its kind that brought together a panel of judges from the venture capital and technology sectors including IDG Ventures Boston, HarbourVest, and Thomas Financial. Pozitron is an R&D focused enterprise communications solution company taking tremendous strides in innovation and development in the mobile industry. It develops new technologies which makes wireless experiences more enjoyable and powerful. Founded in 2000, Pozitron provides professional service and solutions to meet the demands of its customers. Pozitron is the fastest exec... More About: Mobile , Applications
Turkish Business Networking Site - Cember.net Acquired by German Social Net
2008-02-03 19:43:00 In January, it was announced (here via Reuters) that Xing had aquired Cember.net for 4.4 million euros ($6.4 million), to be paid in stages. Xing is a professional business social networking site that had 4.25 million members at end-September 2007 and competes with US-based Linkedin. Cember.net apparently is the largest professional networking social network in Turkey with over 280,000 members. The site is ranked at 117 in Turkey according to Alexa. Overall ranking worldwide looks like this when compared with Linkedin: Cem Sertoğlu came up wıth a good metric for the value of Turkish eyeballs on this deal: The €15/member price tag for the acquisiton shows that there's still a bit of a discount for Turkish internet properties. Xing is trading at about €45/ member. Based on this metric, and with an estimated (although dated) 16,000,000 Internet users in Turkey as of September 2006 (only representing 20% of the population), is this a good price? It's hard to say... More About: Business , Social , Networking , German , Site
Grandstanding Traction Is One Year Old!
2008-01-14 22:07:00 With the end of 2007, it marked a year since Grandstanding Traction took up its mission and started posting on the trials and tribulations of Turkey's Private Equity and Venture Capital space. For a review of the Grandstanding mission, please visit our first post : Grandstanding Traction Objectives. While I have tried unequivocally to post on all dealflow, exits and fundraisings in Turkey, of course I have to apologize if there was not enough time in the day or manpower to get the reader the latest news. Here's what I have noticed and changed about the site: Subscriptions: - Since the beginning, I have always included the RSS subscription button on the upper left corner, as well as a Feedblitz Emailer button on the right sidebar. As of this post, Grandstanding Traction has around 70 feed readers, 21 of which are Feedblitz email readers. As a publisher, I just want to thank you for your readership. Please feel free to pass it on to your friends, or don't be afraid to comme... More About: Year
Turkey Launches iVCi - The Istanbul Venture Capital Initiative - a €200M
2008-01-06 20:58:00 Well, I finally get to break the news on this one since I only received the press release a few weeks ago. It is also fitting as it is Grandstanding Traction's first post of 2008. It should be a great year. The press release reads as follows: The European Investment Fund (EIF), together with the Technology Foundation of Turkey (TTGV), the SME Development Organisation of Turkey (KOSGEB) and the public Development Bank of Turkey (TKB) are jointly launching a target EUR 200m dedicated fund of funds and co-investment programme in Turkey. The Istanbul Venture Capital Initiative , or “iVCi” as the programme is known, aims to serve as a catalyst for the development of the private equity industry in this country whilst achieving good returns for its investors. iVCi is to be advised by the EIF. iVCi further consolidates EIF’s risk capital activities in Turkey, where it already has invested in Actera Partners and Turkish Private Equity Fund II. EIF's Chief Executive, Francis Carp... More About: Venture Capital
Actera Group Closes Actera Partners Fund at $475 Million
2007-12-23 21:47:00 The Actera Group has finally closed their Actera Partners fund at over $475 million according to an AltAssets report. This would be a new Turkish fund record, and would most likely bring 2007 to a close with an increase in the private equity funding pool of over $1 billion. Believe me when I tell you, I have seen a google search come from every country on this site, so Actera's reach has spread far and wide, whether it be through their road shows or due dilagence. Indeed, according to the statement, "commitments came from pension funds, multilateral institutions and sovereign wealth funds from North America, Europe, the Far East and the Middle East." The main points of the statement include: Actera Partners will focus primarily on buy-out and growth equity investments across various industry sectors in Turkey. In addition, the fund seeks to partner with Turkish companies to support their expansion to other countries. The fund has already completed its first transaction. In pa... More About: Fund , Million
Interview: Mehtap Özkan - GoldenHorn Ventures
2007-12-16 20:18:00 Mehtap (Mae) Özkan, founder of GoldenHorn Ventures , was kind enough to be interviewed via email concerning her fund, and about venture capital and entrepreneurship in Turkey. I am not suprised that Mae is someone that is very passionate about entrepreneurship in Turkey and also the part that she plays in supporting that end. For an overview of GoldenHorn Ventures, you can visit the GoldenHorn Ventures website (www.goldenhornventures.com). You can also visit the GoldenHorn Ventures Blog. I think it is very telling when, speaking of Golden Horn, Senior Investment Officer at the IFC, Ralph Keitel, states, "I believe the Turkish market currently offers excellent investment opportunities for early-stage VC firms such as GoldenHorn Ventures which understand the challenges of entrepreneurs in a globalized world." I'll let Mae tell you the story. This will be the first part of that interview. THE FUND - GoldenHorn Ventures Tell us something about your background and how did it evo... More About: Interview
Brokerage House Acquistions in Turkey - MNG to Lehman Brothers
2007-12-02 21:15:00 Since this has been such a hot area as of late, I figured I might as well put them all in one location. Six Turkish Brokerage s get snapped up by foreign buyers in the last 2 years. In addition, for a clear timeline of these acquisitions as well as other deals in the making with international investment banks, don't forget to check out a previous post: "Investment Banks clamor toward Turkey ; Scoop up Brokerages and Licenses". In addition, for some of the acquisitions, you will see links that allow you to drill down to its specific Grandstanding Traction post. Here are the latest brokerage house acquisitions of Turkish brokers by foreign buyers. Brokerage House Acquisitions in Turkey Bank Date Acquirer Acquired % Amount Paid(USD) Arigil Securities Nov. 2006 Morgan Stanley 100% Undisclosed Tat Securities Dec. 2006 Merrill Lynch 100% Undisclosed Dundas Unlu Securities March 2007 Standard Bank 67% Undisclosed Baran Securities May 2007 Credit Suisse 100% Undisclosed Op... More About: Brothers , Lehman Brothers
Summary: METU/ODTÜ Holds Entrepreneur/Investor Summit
2007-11-25 19:42:00 At the beginning of November, I happily attended the Entrepreneur -Investor Summit hosted by Middle East Technical University (METU/ODTÜ) at the Ritz Carlton in Istanbul. I went there with many ideas and goals in mind. However, what I took away was somewhat different from my expectations. First and foremeost, who attended the event? A fine list of panelists can be found on the Metutech site. However, the attendees constituted: International Banks - The EIF, the EIB and KFW presented their foci on helping other banks fund entrepreneurship through loans. Only the EIF through the EIB acts as Fund of Funds to the venture space. European Angels - The midmorning panel consisted of a discussion on the merits, successes and opportunities of setting up an angel investor network. This included The European Business Angels Network (EBAN), and the Italian Business Angels Network (IBAN) as well as The London Business Angels. All stressed the need for increased legislation on the taxatio... More About: Summary , Rene
Turkven Closes Second Fund - TPEF II
2007-11-18 19:03:00 Although there is not a lot of information out there, it can be confirmed that Turk ven has closed its second fund. Posted in October in the WSJ (for subscibers), the TPEF II buyout fund is predicted to be a whopping $428 million, "which is 10 times the size of its 1st fund which closed at $44 million in 2002". For a Turkish private equity fund, this will be the largest increase in fund size ever achieved through a second fund raising. It is also interesting to note that with the crisis in 2001 and with the formation of their first fund in 2002, they may have had to overcome a currency crunch with some of their deals as well as reassurances to their LPs regarding Turkey's economic problems at the time. It's amazing to think that despite any negative issues that may or may have not occured, the demand for and outlook of Turkey has still kept investors and LPs positive. With this second fund closing, it appears that these volatile issues have passed. In addition, their relation... More About: Fund
Deloitte Touche Turkiye Publishes Most Comprehensive Turkish Private Equity
2007-11-11 21:43:00 A few people were looking for the link to this report on my freind Kutlu's blog on Entrepreneurship. So, for anyone curious about testing the waters of the PE/VC space in Turkey, the Deloitte Touche Turkiye report on Private Equity in Turkey (PDF) is a must-read. With the Turkish Venture Capital Association being non-existant (the last analysis being written in 2004), and TUSIAD being focused in other areas, this report from Deloitte Corporate Finance is the most comprehensive analysis to date. Originally I found this report on the Turkish US Business Council website (with some other good reports), but here is the real home link at DT: Private Equity in Turkey: A Practical Guide for Turkish Companies and Investors (24 pages/PDF) http://www.deloitte.com/dtt/cda/doc/conte nt/turkey-en_cf_PEinTurkey_210607.pdf Date: June 2007 Author: Deloitte Corporate Finance The report is structured around various economical periods in the last 20 years dealing with crises as well as telling o...
Blue Voyage Partners Exit AFM Cinemas
2007-11-04 19:33:00 As posted in the TDN (Velios buys AFM’s 51.9 percent shares), it appears AIG Blue Voyage achieves an exit from one of their longtime investments after just re-entering Turkey. I'm a bit short of time as of late, so here are the main points from the article: Turkish cinema company AFM sold more than 50 percent of its shares to the Velios Ltd., a subsidiary of Russian Alfa Group Consortium Tuesday evening. The estimated price of the shares is to be around $28.5 million, however, the final price will be set after closing. This led the previous owners of the company, Akdemir family and AIG Blue Voyage Fund L.P., to sell all their shares except for the 10 percent belonging to Ahmet Adnan Akdemir, AFM founder. A statement made to the Istanbul Stock Exchange (IMKB) said that 51.9 percent of AFM shares (owned by AIG Blue Voyage Fund L.P., Yalçın Selgur, Mehmet Berent Akdemir, M. Sedat Akdemir, Fatma Füsun Akdemir, Ahmet Adnan Akdemir and Yusuf Agah Tansev) were sold to Velios Ltd... More About: Partners , Cinemas
AIG Rehires and Re-Enters Turkish Buyout Market with Blue Voyage Advisors
2007-10-21 20:06:00 According to the Wall Street Journal, AIG is again making a push to enter the Turk ish buyout/venture space. Setup in 2000, the AIG Blue Voyage Fund was a $100m (€72m) fund dedicated to private equity investing in Turkey. Of course you may remember that those were tough times to put together a fund {with the country nearing elections, the 2001 crisis, and the devaluation of the lira}. Nonetheless, the spirit of putting together a private equity fund in Turkey was commendable and they were able to make three acquisitions of companies in the consumer and entertainment sectors which included AFM Theaters and Galatasary Sportif by 2004. Perhaps it was the trouble with board member shifts at Galatasaray that made them lose heart? Even so, the fund deliberately slowed its investment pace from 2002 to 2004 and by 2005, the fund closed with only 30% of its capital committed. Aside from Blue Voyage, however, last year AIG Capital was able to regain some ground in Turkey, taking a st... More About: Market
KKR Makes First and Largest PE Investment in Turkey
2007-10-14 20:11:00 In September, some suprising news came out that KKR (Kohlberg Kravis Roberts & Co) was attempting a takeover bid for the Turk ish UN Ro-Ro shipping firm. Well, news has just been released coutesy of Reuters (KKR buys 98 pct of Turk shipper in $1.28 bln deal) and Forbes (KKR Ro-Ros To Turkey ) that the deal has gone through. KKR will purchase a 97.6% stake worth 882.2 million euros ($1.2 billion) from the consortium of international shippers. While this may pose as a landmark deal for private equity enthusiasts such as myself, not to mention the largest private equity deal ever to be done in Turkey, KKR first appeared to have bitten off more than they could chew. In September, there was negative speculation both from Chairman Saffet Ulusoy (who said that he would never sell) and the Turkish Armed forces as to the selling-off of national security interests. UN Ro-Ro, a roll-on/roll-off shipping company, owns 9 ships and was founded in 1993 during the Yugoslav-Balkans War - a war th... More About: Investment , Largest
Malcolm Gladwell: The Tipping Point, Blink and the TED Conference
2007-09-27 20:28:00 I first got turned on to Malcolm Gladwell by hearing his name among other VC Blogs. My first encounter was when I picked up his latest book: Blink : The Power of Thinking Without Thinking. Having read Blink first, I may have spoiled the effect of reading that book that he his most famous for: The Tipp ing Point : How Little Things Can Make a Big Difference. Luckily, I was able to find a copy sitting next to Blink on the best seller rack. I may be behind the times only finishing it now - it being first published in 2004. However, fret not, for it is still a prudent and powerful explanation of successful businesses, products and social networks in the world of Web 2.0 - beautiful in its simplicity. For those who haven't read The Tipping Point, the idea is a comparison of the successes in business to the spread of a disease epidemic. Think of a common flu virus that hangs around going from person to person, remaining in equilibrium in its contagiousness. But then something happen... More About: Conference
ODTÜ-Teknokent and KOSGEB Hold "Entrepreneur-Investor Meeting": Training f
2007-09-23 20:03:00 Middle East Technical University Metutech (ODTÜ-Teknokent) and KOSGEB (Small/Medium-size Industry Development Organization - see left sidebar) have teamed up and are holding an "Entrepreneur -Investor Meeting " in Istanbul. The Entrepreneur-Investor Meeting {Site Link} will take place at the Ritz-Carlton Hotel on Oct. 31 and Nov. 1st. A Forum will convene on Nov. 2nd to discuss, "Early-Stage Funding in Technology Start-Ups / Benchmarkings for Turkey". For entrepreneurs of Turkey, this is exciting news, but you must hurry to register. The program includes an "Online Business Plan Preparation Training " between September 15, 2007 and October 15, 2007 where entrepreneurs are trained in the necessities of arranging their own business plan. Registration for this training will cost 450 YTL. Then according to the website: Technology entrepreneurs that successfully complete the training will present the business plans to be prepared by them to a team of experts in venture capital and b... More About: Hold
EVCA Releases Quarterly Report: Median Venture Investment Surpasses €3 mi
2007-09-17 08:27:00 At the end of August, the European Venture Capital Association produced its quarterly report with the help of Dow Jones, VentureOne, and Ernst & Young. The highlight of the report, published here by AltAssets, is that European venture capital investment reached €1.14bn in Q2 2007 despite a drop in deal flow to 213 in Q2 2007 from 223 in Q1 and 265 in the same period last year. While great news for investors and entrepreneurs in Europe with a venture model coming of age, the real story should be next quarters results to understand if the markets and appetite for investments remained confident after the credit fluctuations in the US and abroad. Surely the investing of private equity funds in this stage of the cycle does not stop investors from investing funds in smart companies. As of yet, we still have not seen any stagnation in fundraising either. As well, what IRRs these funds will be gaining is another area of interest in the years to come. But I think what is most str... More About: Investment , Report , Median , Quarter
Another Turkish Broker Gets Snapped Up: Citigroup Acquires Opus Securities!
2007-09-13 09:46:00 Reuters reported that Citigroup has now bought Opus Menkul Degerler, a brokerage house in Turk ey, to grow its equities business. Citi plans to change Opus Menkul Degerler (Securities )'s name to Citi Menkul Degerler A.S. According to Opus Securities' website, "Opus Securities is regulated by Capital Markets Board of Turkey and holds equity brokerage, t-bill and repo trading, derivates brokerage, leverage equity transactions, investment consultacy and short selling licenses." As quoted in the Reuters article, "Turkey's equity market capitalisation has grown sevenfold in the last five years, and the depth of the market has increased commensurately. This acquisition provides a fast and efficient route to position ourselves in the market," said Steve Bideshi, Chairman of Citibank A.S. Just another example of how Turkey as an emerging market and the Istanbul Stock Exchange (IMKB) has come of age. As posted here, this year alone, other broker acquisitions have occured such as Cred... More About: Broker , Turkish
Market Share of Television Advertising in Turkey: An Update on the sale of
2007-09-11 19:43:00 UPDATE: A fellow reader sent me an email and asked for a little more information concerning my last post on the seizure and public auction of Merkez Yayin Holding and its media assets: hello there i'm iann and i keep in romania a blog about media issues in south eastern europe what is the real sotry about Medya Yayın Holding? because i dont understand what is State Deposits and Insurance Fund and hi s implication in this transaction and also the trails about the property so if you have time to explain me a little bit the situation it would be breat best regards iann http://aluiann.wordpress.com [romanian] Well Iann, first of all Wordpress is still blocked in Turkey (another story), and secondly, the TMSF is a government organization that repossesses the assets of companies and individuals and are either unable to pay their bills, have defaulted on loans and declared bankruptcy or have been prosecuted for illegal practices. The case with Merkez Yayin Media is that secret contrac... More About: Television , Advertising , Market , Sale
Turkey to auction off media assets of Medya Yayın Holding, Sabah Newspaper
2007-09-06 10:31:00 UPDATE: As of the 25th of September, the TMSF announced that so far there are 5 prospective bidders for the assets of Turkish media firm ATV-Sabah at auction in November. The RTL Group, Rupert Murdoch's News Corp., Germany's ProSiebenSat.1, Czech CME and unlisted Greek broadcaster Antenna TV have all bought the $50,000 documents necessary to take part in the tender. The TMSF contacted Reuters with this information. Relevant and Recent News Links: Date & nbsp; Title-Link & nbsp; Source ; 11-9-07 Market Share of Television Advertising in Turkey : An Update on the sale of Merkez Yayin Holding Grandstanding Traction (Recent Post) 29-9-07 Greek media group eyes Sabah/ATV TDN Original Post:Turkey's State Deposits and Insurance Fund announced that it will auction off repossessed media assets of Medya Yayın Holding, Sabah Newspaper and ATV on ... More About: Media , Auction
ENTREPRENEUR FEATURE: Trink Looking for Seed/Venture Funding
2007-08-22 10:04:00 In building this site, it was always my intention to feature Turkey's entrepreneurs. So when Serkan of Trink (http://www.trink.com.tr) and 4Yaprak Bilgi Teknolojileri emailed me his business plan with his elevator pitch in an email, I was more than happy to publish his inquiry. Here is some of what he wrote: Dear Sir, I produce a prototype and apply to TTGV (TECHNOLOGY DEVELOPMENT FOUNDATION OF TURKEY) for the fund that I need to create my product (TRINK). They gave me an incubation fund to create my first pre_production prototype. But now, I need the real fund for startup and mass production for TRINK. The problem is starting from here: TTGV is one of the biggest foundations in Turkey, but they can not invest any enterpreneur or a company directly -except the incubation fund that we get- because of our laws in Turkey (because TTGV is a FOUNDATION ). So, they(TTGV) set up another company called Teknoloji Yatirim A.S. (Technology Investment Corp.) to support new ideas/... More About: Venture , Entrepreneur , Feature , Funding , Feat
ENTREPRENEUR FEATURE: Trink Looking for Seed/Venture Funding
2007-08-22 10:04:00 In building this site, it was always my intention to feature Turkey's entrepreneurs. So when Serkan of Trink (http://www.trink.com.tr) and 4Yaprak Bilgi Teknolojileri emailed me his business plan with his elevator pitch in an email, I was more than happy to publish his inquiry. Here is some of what he wrote: Dear Sir, I produce a prototype and apply to TTGV (TECHNOLOGY DEVELOPMENT FOUNDATION OF TURKEY) for the fund that I need to create my product (TRINK). They gave me an incubation fund to create my first pre_production prototype. But now, I need the real fund for startup and mass production for TRINK. The problem is starting from here: TTGV is one of the biggest foundations in Turkey, but they can not invest any enterpreneur or a company directly -except the incubation fund that we get- because of our laws in Turkey (because TTGV is a FOUNDATION ). So, they(TTGV) set up another company called Teknoloji Yatirim A.S. (Technology Investment Corp.) to support new ideas/... More About: Venture , Entrepreneurship , Entrepreneur , Venture Capital , Feature
The Home Run Mentality in Venture Capital: the 80/5 Principle
2007-08-10 08:50:00 As an American that misses baseball, and in the spirit of the boys of summer, I can't help but mention that Barry Bonds hit his 756th All-time Home Run on August 7th, breaking Hank Aaron's long-standing record of 755 set in 1974. Despite the controversy over steroid use, we must remember that Babe Ruth did it on hot dogs and beer, and it is an incredible moment in baseball history and for its fans. Way to go, Barry! Within the reference of the home run, in my last post regarding Guy Fraser-Sampson's book, Private Equity as an Asset Class, I highlighted a very interesting statistic regarding the need for Venture Capital ists to "swing for the benches" and look for home runs when making investments. GFS had a very interesting chart in his book that observed this statistic from the famous data released from Horsley Bridge. Last week, a lot of traffic came from search criteria looking for this very data. Here are the basics that I have somewhat reproduced here: The idea is t... More About: Venture Capital , Home Run
The Home Run Mentality in Venture Capital: the 80/5 Principle
2007-08-10 08:50:00 As an American that misses baseball, and in the spirit of the boys of summer, I can't help but mention that Barry Bonds hit his 756th All-time Home Run on August 7th, breaking Hank Aaron's long-standing record of 755 set in 1974. Despite the controversy over steroid use, we must remember that Babe Ruth did it on hot dogs and beer, and it is an incredible moment in baseball history and for its fans. Way to go, Barry! Within the reference of the home run, in my last post regarding Guy Fraser-Sampson's book, Private Equity as an Asset Class, I highlighted a very interesting statistic regarding the need for Venture Capitalists to "swing for the benches" and look for home runs when making investments. GFS had a very interesting chart in his book that observed this statistic from the famous data released from Horsley Bridge. Last week, a lot of traffic came from search criteria looking for this very data. Here are the basics that I have somewhat reproduced here: The idea is t... More About: Investment , Venture Capital
REVIEW: Private Equity as an Asset Class by Guy Fraser-Sampson
2007-08-05 14:20:00 To the average man on the street, the world of private equity can take on a perception of big-men-banker types, cigar smoke-filled boardrooms and ivory towers. However, Guy Fraser-Sampson's new book, Private Equity as an Asset Class , puts a face of the common man to private equity that makes it an easy (and enjoyable) read for students of finance, PE/VC professionals, pensioners, gatekeepers and first-time investors. For the private equity industry, the writing of this book was sorely needed. Guy Fraser-Sampson is the right man for the job - a man with 20+ years of PE experience and previously a partner and managing director at Horsley Bridge. It has just gone on sale in the United States and sold over 1000 copies in the first 10 weeks in Europe. When first I was sent his book, I was delighted. It has been described as "the only definitive text book in the world on private equity." After reading it, I can honestly say it will provide a benchmark and turning point for the glo... More About: Review
REVIEW: Private Equity as an Asset Class by Guy Fraser-Sampson
2007-08-05 14:20:00 To the average man on the street, the world of private equity can take on a perception of big-men-banker types, cigar smoke-filled boardrooms and ivory towers. However, Guy Fraser-Sampson's new book, Private Equity as an Asset Class , puts a face of the common man to private equity that makes it an easy (and enjoyable) read for students of finance, PE/VC professionals, pensioners, gatekeepers and first-time investors. For the private equity industry, the writing of this book was sorely needed. Guy Fraser-Sampson is the right man for the job - a man with 20+ years of PE experience and previously a partner and managing director at Horsely Bridge. It has just gone on sale in the United States and sold over 1000 copies in the first 10 weeks in Europe. When first I was sent his book, I was delighted. It has been described as "the only definitive text book in the world on private equity." After reading it, I can honestly say it will provide a benchmark and turning point for the glo... More About: Review
Is Turkey's IPO Window Open on the Istanbul Stock Exchange (IMKB)? Here ar
2007-07-29 11:36:00 2007 has been a very busy year, indeed. In the first half of the year, there were 8 IPO's (including Albaraka Turk Bank) totaling $2.820 billion. This breaks a record set in 2000, when 36 companies went public for close to the same amount. Here is a breakdown of the last 8 years of IPOs on the Istanbul Stock Exchange (IMKB). Remember, there was a crisis at the beginning of 2001. IMKB IPOs (2000-2007) YEAR NUMBER OF IPOs AMOUNT RAISED (USD) 2000 36 $2,809 mln 2001 1 $200,000 2002 4 $56.5 mln 2003 2 $11.3 mln 2004 12 $600 mln 2005 9 $1,740 mln 2006 15 $930 mln 2007 (as of July) 8 2,820 mln To follow, here is a list of the 2007 IPOs that have occured on the IMKB. IMKB IPOs (As of July 2007) DATE COMPANY IPO AMOUNT RAISED (USD) Feb. 15-16 TAV Airports Holding $335 mln Feb. 22-23 Sa?lam REIT $5.59 mln April 25-26-27 Oyak Yat?r?m Ortakl??? A.?.(Oyak Investment Fund) $8.31 mln April 16-17-18 Merkez Securities INC. B Type Investment Trust $2.43 mln... More About: Open , Window
Is Turkey's IPO Window Open on the Istanbul Stock Exchange (IMKB)? Here ar
2007-07-29 11:36:00 2007 has been a very busy year, indeed. In the first half of the year, there were 8 IPO's (including Albaraka Turk Bank) totaling $2.820 billion. This breaks a record set in 2000, when 36 companies went public for close to the same amount. Here is a breakdown of the last 8 years of IPOs on the Istanbul Stock Exchange (IMKB). Remember, there was a crisis at the beginning of 2001. IMKB IPOs (2000-2007) YEAR NUMBER OF IPOs AMOUNT RAISED (USD) 2000 36 $2,809 mln 2001 1 $200,000 2002 4 $56.5 mln 2003 2 $11.3 mln 2004 12 $600 mln 2005 9 $1,740 mln 2006 15 $930 mln 2007 (as of July) 8 2,820 mln To follow, here is a list of the 2007 IPOs that have occured on the IMKB. IMKB IPOs (As of July 2007) DATE COMPANY IPO AMOUNT RAISED (USD) Feb. 15-16 TAV Airports Holding $335 mln Feb. 22-23 Sağlam REIT $5.59 mln April 25-26-27 Oyak Yatırım Ortaklığı A.Ş.(Oyak Investment Fund) $8.31 mln April 16-17-18 Merkez Securities INC. B Type Investment Trust $2... More About: Open , Window
A New Entry in the Turkish Venture Capital Space: Delta Capital Interested
2007-07-20 09:13:00 In March 2007, Delta Capital , a Private Equity firm focused in the telecom industry in the Middle East and Africa, closed its MENA Telecom Fund, raising over 75 million USD. Conceived and headquartered in Dubai UAE, Delta Capital is part of Delta Partners - a company with strong expertise in the telecom industry. According to the Delta Partners website, the fund will have a life of 7 years with an investment period of 3 years. In addition, unlike most VC funds that are constrained to a certain region, Delta has chosen a wide path - the MENA region. What is exciting about this is that it includes Turkey! Over a conference call, I spoke with Delta Capital. I asked them to send me a few comments and answer a few questions about their fund. The following is a representation of that conversation according to Delta Capital's Head of Private Equity, Morten Kvammen: "Why do you wish to invest in Turkey? Why now?" Turkey, having a liberalised telecom industry and a continuously gro... More About: Venture , Space , Venture Capital
A New Entry in the Turkish Venture Capital Space: Delta Capital Interested
More articles from this author:2007-07-20 09:13:00 In March 2007, Delta Capital, a Private Equity firm focused in the telecom industry in the Middle East and Africa, closed its MENA Telecom Fund, raising over 75 million USD. Conceived and headquartered in Dubai UAE, Delta Capital is part of Delta Partners - a company with strong expertise in the telecom industry. According to the Delta Partners website, the fund will have a life of 7 years with an investment period of 3 years. In addition, unlike most VC funds that are constrained to a certain region, Delta has chosen a wide path - the MENA region. What is exciting about this is that it includes Turkey! Over a conference call, I spoke with Delta Capital. I asked them to send me a few comments and answer a few questions about their fund. The following is a representation of that conversation according to Delta Capital's Head of Private Equity, Morten Kvammen: "Why do you wish to invest in Turkey? Why now?" Turkey, having a liberalised telecom industry and a continuously gro... More About: Venture , Entrepreneurship , Space , Venture Capital 1, 2, 3 |
|
 |
|
 |
