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APY Ventures is the venture capital investment arm of Albaraka Asset Management that provides financial backing to early-stage and growth-stage technology startups, based in Istanbul, Turkey. The firm operates by generating revenue through fund management fees and carried interest, targeting specific regional innovation ecosystems and sectors such as financial technology, B2B software-as-a-service, health technology, and deep technology. The organization currently manages at least seven distinct venture capital investment funds, including a dedicated Fintech VCF, and has backed a total of over forty portfolio companies across its active investment vehicles. APY Ventures receives backing from institutional limited partners like affiliated bank Albaraka Türk and has invested in notable startups including Syntonym, VRLab Academy, and Inofab Health. The venture capital brand was subsequently established under the leadership of Director Mustafa Keçeli following the 2015 founding of its parent organization.
Key people at APY Ventures.
APY Ventures leverages the credibility of Albaraka Türk and the experience of Albaraka Portfolio to support its venture capital initiatives and investment decisions.
APY Ventures leverages the credibility of Albaraka Türk and the experience of Albaraka Portfolio to support its venture capital initiatives and investment decisions.
Key people at APY Ventures.
APY Ventures has 4 tracked investments across 3 companies. The latest tracked deal is $1.0M Seed in Cendra in February 2026.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 10, 2026 | Cendra | $1.0M Seed | Revo Capital | Heartfelt, Turkey Development Fund, Heartfelt Capital |
| Jan 22, 2024 | Turan | $1.2M Other Equity | Ilker Sozdinler | — |
| Dec 28, 2023 | Fimple | $3.5M Seed | — | KT Portfey, Tera Portfey |
| Mar 20, 2023 | Turan | $1.0M Seed | — | Caucasus Ventures, Colendi, KT Portfey, NEO Portfey, RE PIE Asset Management, Tera Portfey, Turkaz Investment Fund, United Payment |
The investment strategy of APY Ventures centers on early-stage technology companies. It manages funds such as the Next-Generation Technology Venture Capital Investment Fund, aiming to support innovative enterprises within the tech sector, particularly those operating in Turkey.
APY Ventures benefits from its affiliation with Albaraka Türk, utilizing its established credibility, and drawing upon the experience of Albaraka Portfolio. This integrated approach is designed to enhance the firm's capacity to identify and nurture promising startup ventures.
Headquartered in Istanbul, Turkey, APY Ventures provides a structured channel for entrepreneurs seeking capital. Startups can apply to its funds, such as the Start-up Venture Capital Fund, through dedicated application processes.
The firm actively participates in the venture capital ecosystem, forming partnerships with organizations like the London Venture Capital Network. This engagement underscores its commitment to supporting the development of the startup landscape and facilitating investment opportunities in technology.
