Turkey is establishing five venture capital funds with a total initial size of 628 million liras ($110 million) to support start-ups in the technology industry, Industry and Technology Minister Mustafa Varank said.
The funds, which will include capital from local and foreign investors, as well as the Treasury and Finance Ministry, are expected to grow to 1.1 billion liras, Varank said, according to local media including BloombergHT television.
