About Us

Sarmal Ventures was founded in Istanbul in 2016 by two former founders and an institutional investor. The idea was simple: offer entrepreneurs in Türkiye their first institutional investment with fast decisions, founder-friendly terms and operational support.

Our funds

• Fund I (2016): USD 40 million; 14 investments, 5 exits
• Fund II (2020): USD 90 million; 22 investments, 4 exits
• Fund III (2024): USD 180 million; 10 investments (ongoing)

Our fund investors include pension funds, development institutions, family offices and successful entrepreneurs. Fund III also received capital from the Development and Investment Fund's domestic venture capital program.

How we work

Before writing a check we meet the founder at least three times in different contexts. After the decision, each portfolio company is assigned an investment partner and a specialist from our platform team. Progress is tracked together through monthly board meetings and quarterly strategy sessions.

Our values

Transparency, respect for founders, long-term thinking and honest feedback. We give reasoned feedback to every founder we have to decline.

See the Investment Approach page for our strategy and criteria.

Team and governance

Our team has 19 people: six in investment, six in platform and operations, and the rest in finance, legal and community teams. Half of the investment team are women. Our fund management company is subject to Capital Markets Board regulation; investor reporting is quarterly and independently audited.