A parent fund was established within the Turkish Development Fund

The Ministry of Treasury and Finance made a statement, “With the established upper fund, resources will be transferred to high value-added areas within the framework of our Medium-Term Program targets, and the development of the venture capital ecosystem and the growth of businesses producing goods and services in these areas will be supported.”

A protocol was signed between the Ministry of Treasury and Finance and the Development and Investment Bank of Turkey regarding the establishment of a new upper fund of 50 million dollars.

According to the press release made on the Ministry’s social media account, work on the upper fund structure announced in May has been completed.

In the statement, it was reported that the protocol regarding the establishment of a new upper fund of 50 million dollars within the Turkish Development Fund was signed between the Ministry and the Turkish Development and Investment Bank, and the following was noted:

“Our Ministry has committed to transfer resources worth 35 million dollars to the established upper fund. With the established upper fund, resources will be transferred to high value-added areas within the framework of our Medium-Term Program targets, and the development of the venture capital ecosystem and the growth of businesses producing goods and services in these areas will be supported. The investments made are aimed to accelerate the technological development and economic growth of our country with the leverage effect.”