Turkey commits $430m to new venturing funds

The government’s new investment plans cover the period up to 2023.

Turkey has this month rubber-stamped the creation of a new state-backed fund-of-funds which will invest up to 2bn lira ($430m) in venture capital funds between now and the end of 2023.

The plans were included in a package of measures aimed at promoting growth among startups and fast-growing companies that was unveiled by development minister Lütfi Elvan at the World Business Angels Investment Forum in Istanbul in February.

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