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Venture Capital Information on Investment Funds

LETVEN CAPITAL's professional staff and business partners review five different evaluation criteria groups and invest in startups that stand out within the framework of the fund's investment strategies.

  • Business Attractiveness
  • The commercial future of the venture's field of activityMarket Attractiveness
  • The structure and future potential of the market in which the venture operatesProduct/Service Attractiveness
  • Customers' perception of the value created by the venture
  • Managerial Power
  • Knowledge and experience of the venture's management teamInvestment Exit Potential
  • Possibility of earning on the value the venture achieves in the future
  • Growing market share
  • Competing with world brands and taking the brand abroad
  • Achieving transparency and sustainable growth
  • Transparency for internationalization
  • Decision-making within the family Bringing discipline to the BoD
  • Providing a roadmap and vision
  • Helping to find answers to the questions Where do you want to go? Or How do you want to do it?
  • Profit and loss sharing and risk sharing
  • Enhancing corporate governance

LETVEN CAPITAL investment and portfolio performance process is managed within the framework of integrated and 5-stage operations.

  • BUL
    The stage where ideas and initiatives in the fields of agriculture, food and technologies are screened and pre-qualified; as a result of the evaluation, it is decided to proceed with opportunities with high potential
    The stage where detailed due diligence processes are carried out with prominent investment opportunities and the investment decision is taken within the fund
    Commercial negotiations and contracting process between the parties to build a successful future together
  • **GOVERN
    Providing managerial support by transferring the knowledge and experience of the fund in order for the invested enterprises to achieve their goals within the framework of the agreed business plan
  • EXIT
    Transferring the investments that have achieved their commercial targets and found their value in the market from the fund to new investors who will prepare the future

Step 1:
Companies seeking investment apply by sharing their basic information on the DIGITAL TECHNOLOGIES FUND website.
Step 2:
Proactive research is carried out with business partners in the DIGITAL TECHNOLOGIES FUND ecosystem on companies that apply and have venture potential in the market.
Step 3:
Potential investment opportunities are pre-evaluated by DIGITAL TECHNOLOGIES FUND analysis teams in line with investment criteria.
Step 4:
DIGITAL TECHNOLOGIES FUND initiates a relationship with the venture candidates believed to have investment potential, a half-day meeting is organized following the mutual signing of the confidentiality agreement in order to get a closer feel of the management team and the working environment of the venture candidate.
Step 5:
A Letter of Understanding is prepared in line with the Management Progress Decision to form the basis for the negotiation phase with the venture candidate that is believed to overlap with the DIGITAL TECHNOLOGIES FUND resource allocation strategy.
Step 6:
A Due Diligence Team is formed to carry out the evaluation process for the Venture candidate that the Investment Committee of the DIGITAL TECHNOLOGIES FUND plans to invest in, and a Letter of Understanding is mutually signed with the Venture candidate accordingly.
Step 7:
Due Diligence Document showing the commercial, legal and operational information of the venture candidate planned to be invested by the DIGITAL TECHNOLOGIES FUND is prepared. The process until the Investor presentation is managed through field visits and interviews.
Step 8:
The analyses and interview studies completed by the Due Diligence Team are prepared as an Investor Presentation Document and presented to the Executive Committee together with the Venture Candidate Management Team so that the Investment Committee of the DIGITAL TECHNOLOGIES FUND can make an investment decision.
Step 9:
The Investment Committee decides whether or not to invest in the venture candidate by taking all these evaluation criteria into consideration. A detailed Draft Protocol clarifying the economic and control issues is prepared with the venture believed to be suitable for investment and the commercial transaction process is initiated.
Step 10:
The Draft Protocol created during the Offer Preparation phase, which will form the basis for negotiations with the venture, is shared with the venture.
Step 11:
The Preliminary Protocol agreed in general terms with the DIGITAL TECHNOLOGIES FUND and the Venture candidate is elaborated and negotiations start on the Detailed Preliminary Protocol. The general principle of the Commercial Negotiation process is to allow the parties to conduct unifying negotiations (on the creation and distribution of value).
Step 12:
Within the framework of what the DIGITAL TECHNOLOGIES FUND and the venture candidate have agreed upon in the previous processes, the Investment Agreement is opened for signature by the authorities of both parties.
Step 13:
After the contract signed with the venture, which is decided to be invested by the DIGITAL TECHNOLOGIES FUND, the implementation of the articles is started. First of all, the Board of Directors and other management level appointments (if any in the Agreement) are made.
Step 14:
Goals and a joint business plan are prepared to guide the business management of the Venture.
Step 15:
Key performance indicators (KPIs) to be used in performance management in order to achieve the prepared targets are shared with the DIGITAL TECHNOLOGIES FUND Management Teams at specified periods and decisions regarding operations are implemented.
Step 16:
In the process of investing in the venture by the DIGITAL TECHNOLOGIES FUND, a preliminary study on the exit potential was conducted. In line with the opportunities arising, DIGITAL TECHNOLOGIES FUND conducts its negotiations.
Step 17:
The offers made to the venture are evaluated in line with the strategies of DIGITAL TECHNOLOGIES FUND.
Step 18:
As a result of the negotiations conducted by the Executive Committee, if the offer of the potential Investor is deemed appropriate for the DIGITAL TECHNOLOGIES FUND, the offer is accepted with the approval of the Investment Committee and the exit is completed by signing the contracts.

Company evaluation criteria (including but not limited to the items below) are as follows

Investment Exit Potential: In the event that the PMC invests in the Venture candidate, it indicates the potential for the value of the company to increase in the medium term and for the shares to be sold and exited at any time.

Geographical Positioning: Indicates the geographical regions where the venture candidate conducts its operations and serves its customers.

Investment amount: Defines the amount of investment that the venture candidate needs to grow.

Investment stage: Indicates the stage of the venture candidate in the company life cycle.

Additional needs: Indicates the additional needs required for the startup candidate to grow.

Background/experience: Describes the professional background and experience levels of the people who make up the venture candidate's management team.

Managerial capabilities: The managerial capabilities of the venture candidate's management team and their ability to work together.

Market attractiveness: The current state and growth potential of the market that the Venture candidate, which is considered to be invested by the PMC, plans to serve.

Market potential: The material size of the market that the Venture candidate plans to serve.

Product differentiation: The features that differentiate the venture candidate's product from the products of its potential competitors and provide a competitive advantage.

Market/product fit: Demand and fit of the venture candidate's product by the targeted market.

Isolation from competition: The protection measures in place to prevent the venture candidate's competitors from entering the market with the same or similar products.

Financial forecasting: Turnover, profitability and cash flow forecasts of the venture candidate in the medium/long term of five years, taking into account the product roadmap.

Business/company valuation: The potential value of the venture candidate as a result of using its forward-looking financial forecasts as an input to the business/company valuation.

There cannot be a strict outline format for the investor presentations, because the expectancies vary according to the company. However, the following items are always useful:

  • Business objective
  • Business model
  • Problem
  • Solution
  • Market Size
  • Competition
  • Financial Information
  • Income Model
  • Solution Partners