As we bid farewell to 2023, I would like to share our reflections on the past year, which was unique and complex in many aspects.
We started 2023 with the final round of our 212 Regional Fund (RF) II investment period and the birth of Simya. Among our early targets was the 1st closing of RF Fund III. However, due to the devastating earthquake and the elections, we had to move the closing date to Q4’23.
Throughout the year, we were busy with investments and portfolio growth, both new and follow-on. We had two new and six follow-on investment commitments with RF II and seven new investment commitments with Simya I, totaling over €10 million. It’s all the result of the hard work and fantastic collaboration of our RF II and Simya I investment teams. At the same time, Insider and HotelRunner, from RF I, raised new rounds for growth.
In the last quarter of 2023, we had the first closing at RF III and started NexT I fund, focusing on Advance Materials with a global mandate.
The team is preparing infographics to share 2023 Reflections, so I don’t want to give any spoilers.
212 is starting 2024 more robust than ever, with refreshed energy! Significant new developments, new rounds of investments, and growth in the portfolio are in the works. With three funds and three investment teams, we will continue to partner with exceptional founders and expand our reach.
As a final note, I’d like to share our gratitude to all founders and investors for choosing us over the years. And, of course, none of these could happen without a solid and dedicated 212 Team.
Thank you all, and happy holidays!
I’m taking the first week of January off as I’m planning to spend some time with my son, who is visiting me in Istanbul.
Next Update will be on January 8th, 2024
Last Week
Our investment teams interacted with xx companies.
We had our internal review and plans for next year. We will continue our discussions in January.
I attended AI Summit in Istanbul on December 23rd.
This week and next
Our office will be closed this week.
Some News