Istanbul Venture Capital Initiative (iVCi), Turkey’s fund of funds and co-investment programme advised by the European Investment Fund (EIF), is supporting the Darby Converging Europe Fund III, with a €17.5m commitment.
In addition, EIF is putting an extra €35m into this Fund through its Mezzanine Facility for Growth Mandate.
Managed by Darby Overseas Investments to target Central and South-Eastern Europe, including Turkey, the fund has achieved a first closing at €140m. These commitments will allow Darby to expand its reach in the Turkish market and further consolidate its activities, including strengthening and enlarging its dedicated Turkish team.
Founded in 1994, Darby is the private equity arm of Franklin Templeton Investments, and manages a range of private equity, mezzanine, and infrastructure funds in Asia, Latin America, and Central and Eastern Europe.