e2vc launches $150m fund to back Turkish games and tech companies

• Mobile gaming is one of its two main investment areas.
• e2vc has invested in 11 gaming companies, including unicorn Loom Games.
• The firm's gaming portfolio reached a combined daily revenue of $3m at its peak.
• The launch takes e2vc's total assets under management to $600m.

Venture capital firm e2vc has launched a $150 million growth fund to support mobile gaming and technology companies from Türkiye as they expand into international markets. 

The e2vc Growth Fund, established by Azimut Portföy Yönetimi and advised by e2vc, will target Series A to Series C companies. It plans to make initial investments of up to $10m per company, with further funding available in later rounds.

The launch marks an expansion of e2vc's investment strategy, which has focused on pre-seed and seed-stage companies over the past decade.

Gaming investments

Mobile gaming startups are one of two main investment areas for the new fund. e2vc has since backed 11 gaming companies, including Loom Games, which reached unicorn status, while three others achieved valuations above $100m.

The firm said its gaming portfolio generated combined daily revenue of $3m at its peak.

The fund will also target technology companies founded by Turkish entrepreneurs or maintaining strong links to Türkiye through their teams, research and development activities or operations.

The launch brings e2vc's total assets under management to $600m, with more than $300m available for investment across its Growth Fund and Fund III.

“To date, we have invested in many successful companies at a very early stage," said e2vc general partner Enis Hulli. “But as these companies grew, our investment scope meant we could not continue backing them in later funding rounds. 

“With e2vc Growth, we will now be able to support our strongest portfolio companies through their growth stages as well.”