The $39 billion Turkey Wealth Fund (Turkiye Varlik Fonu, TVF) will launch a $250 million technology fund. The new fund is expected to give a boost to the Turkey’s evolving tech sector.
Turkey’s tech sector has already attracted interest from GCC Sovereign Wealth Funds (SWFs) in the recent past.
TVF’s decision to support and finance local tech firms clearly shows the sector’s potential. The decision is similar to Indonesia’s Investment Authority (INA) with partnerships involving other state-owned investors.
GCC Funds
GCC SWFs have been evincing interested in Turkey’s market potential and strategic economic position. On its part, TWF tended to position itself as a holding company for national state-owned assets.
Abu Dhabi’s SWFs - ADQ and Mubadala - supported online grocery d...
