Cross-border Mergers & Acquisitions Transactions in Türkiye: Private Equity, Venture Capital and Strategic Investments and Exits
Globalturk Capital, the Investment Office of the Presidency of the Republic of Türkiye, and Datasite co-hosted the “Cross-border Mergers & Acquisitions Transactions in Turkiye” webinar on the 23rd of June 2022, focusing on private equity, venture capital, and strategic investments and exits in Türkiye. In his opening remarks and key messages to international business community, Investment Office President A. Burak Dağlıoğlu highlighted the main advantages and opportunities that Türkiye has to offer for strategic and financial investors.
Dağlıoğlu emphasized that Türkiye is a resilient and fast-growing economy with a business-friendly policies buoyed up by a continuous reform agenda, availability of a deep and competent talent pool, and access to global markets at the nexus of Europe, Asia, and Africa.
The webinar was supported by the New York-based Global Private Capital Association (ex-EMPEA)(“GPCA; www.globalprivatecapital.org”), where GPCA’s Research Director Jeff Schlapinski attended as a keynote speaker. The webinar was promoted in the GPCA’s industry newsletters and forums. On his keynote speech, Schlapinski has pointed out that although the global markets were quite stressed due to the growing inflation concerns as well as Russia-Ukraine war and regional conflicts, these macro factors do not necessarily hold investors back from making profitable returns. Therefore, the global and especially emerging market investment narrative is turning into focusing more on a case-by-case basis, while making investment decisions.
During the webinar, the private equity and venture capital activity, as well as all strategic M&A transactions, which happened during the past two years under the pandemic circumstances were highlighted. Baris Oney, representing Globalturk Capital, hosted the webinar and moderated the panel. The panel consisted of investors, bankers and advisors, who candidly shared invaluable and factual information on what really has happened on the ground on the subject matter during the pandemic in terms of investments and exits and their views on what lies ahead.
Panelists were Barış Gen representing IFC’s private equity funds, Ahmet Faralyalı, representing Mediterra Capital, Ahmad Al-Saati, representing Albright Capital, Cenk Bayrakdar, representing Revo Capital, Emre Karter representing Citi, İsmail Esin, representing Esin Attorney Partnership, and John Komninakidis, representing Datasite.
The webinar concluded with an assessment of recent geopolitical developments affecting business and investment decisions, by Ambassador (Retd.) Alper Coşkun, Senior Fellow at the Carnegie Endowment for International Peace.
During the webinar, light was shed on the fact that, in line with the global trends, the number of M&A transactions in Türkiye soared at record levels, reaching 400 in 2021 and the disclosed deal volume has crossed the threshold of USD 10 billion, more than 60% of which was realized by foreign investors. The share of western investors was 74% in 2021.
One of the most remarkable aspects during the pandemic, both globally and in Turkiye, was the skyrocketing trajectory of the number of venture capital transactions. In 2021, 220 venture capital transactions were concluded in Turkiye totalling USD 2 billion. Not only that but funds were raised as well. The number of private equity transactions was over 20 with a volume of over USD 2.3 billion in 2021. Getir, Elif Plastics, Trendyol, Vivense, Haznedar, Peak Games were just a few to name among major cross-border transactions in the last two years or so. Many successful exits were realized during the pandemic. Technology, export-oriented manufacturing, food and agribusiness including packaging, healthcare and energy and mining were the key investment verticals with climate and impact themes in the same period.
All this activity is a testament, where focusing on investments itself pays off, rather than getting cluttered with the macro uncertainties. And Oney in his recap, highlighted once again that Turkey has always been an investible and an exitible market, The key takeaway was that good Turkish businesses managed by good owners and professionals, despite all global, regional and local macro challenges, can always offer investors viable investment options with profitable exits.
Videos of the webinar:
Opening Speech of Baris Oney & Presentation of Jeff Schlapinski
Ahmet Burak Daglioglu's Speech
Baris Oney's Speech
First Part of The Panel Session with Investors
Second Part of The Panel Session with bankers and Advisors
Alper Coskun's Speech