Sarmal Ventures invests in founding teams that scale with technology and target large markets. Our decisions rest on three core questions: Why will this team succeed? Is the market large enough? Does the product solve a real problem for customers?
Stage and check size
| Stage | Check size | Typical assessment |
|---|---|---|
| Pre-seed | USD 250 – 600K | Strong team, first prototype, customer discovery |
| Seed | USD 600K – 1.5M | MVP, first revenue or pilots |
| Series A | USD 2 – 6M | Product-market fit, recurring revenue |
With Fund III, 50 percent of our reserves are set aside for pro-rata in follow-on rounds.
Sector focus
- Fintech and SME software
- AI and data infrastructure
- Digital health
- Climate tech and agriculture
- Cybersecurity
- Deep tech (sensors, semiconductors and materials science)
Geographic scope
In addition to startups based in Türkiye or with founders in Türkiye, we invest in teams targeting Central Asia, the Caucasus and the MENA region.
Responsible investing
We do not invest in weapons, gambling, tobacco or fossil fuel extraction. Before every investment we review founder background, data security and business ethics. Portfolio companies are expected to share annual diversity, inclusion and carbon data.
Decision process
The investment committee consists of four partners and decisions are taken by partner vote, and every investment requires the approval of at least three partners. A written investment memo is prepared for each investment, clearly stating risks, milestones and exit scenarios. A summary of feedback is also given to the founder.