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Against the backdrop of COVID-19 global economic conditions the Turkish startup ecosystem continued to show healthy growth in H1 2020: the total VC funding ($80M) accounted for close to 80% of total funding in Full Year (FY) 2019. However, the total number of deals decreased to 29, with the top three disclosed rounds accounting for 67% of total invested funds in H1 2020.
More venture capital inflows but in fewer deals: H1 2020 saw $80M invested in Turkey-based startups, already 80% of total FY 2019 funding, while investment deals (29) were down by 51% from H1 2019;
Growth is quite uneven: The top 5 disclosed funding rounds in H1 2020 accounted for more than 84% of total funding in the first 6 months in Turkey's startup ecosystem compared to 49% across MENA;
The breakdown by industry is consistent with emerging venture markets, with E-Commerce ranking first by number of deals, and Delivery & Transport taking home the lion’s share in terms of funding;
The Turkey Venture Funding Snapshot includes an overview and analysis of:
- Turkey’s yearly funding evolution, from 2015 onwards
- Quarterly funding evolution & analysis;
- Emerging markets comparison & Turkey’s ecosystem in context;
- Industry breakdown by number of deals and amount of funding ($) invested;
- H1 2020’s top 5 funding rounds
- Top funding institutions, most active investors, and investor landscape overview