212 VC

212 invests in growth stage tech companies across Turkey, CEE, and MENA. Currently, their fund manages €75 million of committed capital, and 21 investments. 212’s strategy is to invest in B2B tech solutions that have demonstrated traction, a clear product-market fit, and are ready to scale internationally. ‘Test local, go global’ is 212’s guiding principle. In addition to investing in startups, 212 puts significant effort into mentoring, supporting and advising their portfolio companies. 212’s Fund I, US$30 million, invested in 12 companies with US$400 million value created. Celebrated winners from Fund I include Iyzico and Insider. Iyzico exited in 2019 with a US$168 million valuation, returning the entire invested capital. Insider is a Sequoia-backed company, having recently closed another round of investment with a US$200 million valuation. Fund II is invested in 13 companies to date: 123 Form Builder, App Samurai, Artboard Studio, Avatao, Chooch AI, Fazla Gida, MallIQ, Marti, Meddy, Metrobi, OMMA, SmartMessage, Trio Mobil. Final close ended in August 2020 with the fund size at €49 million. 212 was founded by Numan Numan and Ali Karabey in 2012. Their team is based out of Istanbul, Turkey and the region.