Early stage venture capital firm 500 Startups launched a $15M micro-fund focused on Turkish startups.
500 Istanbul is led by 500 Venture Partner Erhan Erdogan, along with 500 Fund Advisor Erbil Karaman.
The new fund plans to invest in over 100 Turkish startups in the next several years. 500 has already invested in eight companies founded by Turkish entrepreneurs including Udemy, Socialwire, Parlakbirgelecek, Connected2.me, Boostable, Adphorus, Mobile Action, and Koding.
Commenting on the launch of the new fund, Dave McClure, Founding Partner of 500 Startups, said: “500 has been investing in Turkish startups for years, and we know this market has tons of talent. As an early investor in Udemy and other Turkish companies, 500 is excited to bring Silicon Valley connections, capital, and expertise to this promising emerging market.”