Private Equity And Venture Capital In Turkey
“Venture Capital and Private Equity in Turkey” panel-discussion was held on February 26th at the Taksim Point Hotel -Istanbul, organised by Finans Network and sponsored by MCM Consulting.
Serkan Elden from Pinebridge Investments, Serhat Gorgun from Inovent Venture Capital, Darby Converging Europe Mezzanine Fund’s Burak Dalgin and Partner Ismail Esin from Esin Law Firm were among speakers at the panel.
Pinebridge’s Elden said emerging markets, including Turkey, will be the main trigger for global growth in the next 10-20 years and private equity firms may have a part in this growth. In his presentation Elden said private equity transaction volume in Turkey could reach $15 billion in the upcoming years, adding that companies should be seeing private equity partners as strategic long term investors and be open from the beginning in terms of providing accurate company data as mistrust could jeopardise transactions.
Burak Dalgin from Darby explained how mezzanine funds work, adding mezzanine could be seen as a level between equity capital and bank debt on the balance sheet. Dalgin added that mezzanine could be particularly useful in balance sheet restructuring as well as acquisition financing and Darby has completed four deals in Turkey as mezzanine transactions have been getting popular in the country.
Inovent Venture Capital’s Serhat Gorgun said Inovent supports projects at early stages, adding that academic research should increase and urged for more funding from private and government companies for competitive innovation research.
Ismail Esin of Esin Law Firm, the leading lawyers in private equity deals in Turkey, underlined that companies should be transparent in deal making process and be careful of not delaying the process by adding clauses, which may be against the favour of the other party.
The organisers MCM Consulting is mainly working in private equity deals, company sales, capital raising and renewable energy financing, led by director Mert Ozturk in Turkey and with consultants in London and California.
www.mcmconsultants.com (Tel +90 232 483 8826)