BV Portföy Yönetimi A.Ş. Boğaziçi Ventures Second Venture Capital Investment Fund (BV2)

The fund is an illiquid investment. However, investors seeking an early exit may transfer their units to another investor, subject to fund policy. Our management team provides full operational and administrative support throughout the secondary transfer process.

Based on an analysis of 400+ data points and consolidated global technology reports, Türkiye ranks among the top countries in EMEA in terms of AI entrepreneurship capacity.

Key rankings:

• Ability to create & scale startups: Top 10 globally, ranked as high as 7th.
• Ability to expand globally: Top 10.
• Deep tech (foundational AI): Top 15 (This category is outside our fund’s investment scope).

Türkiye’s strengths:

• Very strong developer and designer talent pool.
• High capability to build globally competitive Applied-AI products.
• In the last 18 months, Turkish AI applications accounted for nearly 50% of global downloads within their category.
• A single-language, single-culture structure similar to Korea, enabling fast iteration, rapid user feedback loops, and efficient product validation.
• Highly digital-native population with robust financial infrastructure (pre-paid cards, wallets, digital payments).
• A geographic and time-zone advantage that enhances global operations—customer support, campaign management, and international scaling can be run without friction.

Co-investment rights are granted exclusively to members of the Advisory Committee.

Advisory Committee members have access to the fund’s entire dealflow.

Follow-on opportunities are shared first with the Advisory Committee, and then with all investors.

LPs can access all information they request, including fund performance data, portfolio company updates, and valuation details. Full transparency is a core principle of our investor relations approach.

A detailed quarterly performance report is shared every 3 months, covering fund metrics and portfolio company developments.

An annual LP Meeting is held to gather investors in person, providing an opportunity to discuss the fund, strategy, and market outlook.

Commitment and Capital Call: Definitions

• Capital Commitment: The total amount an investor agrees to contribute to the fund. This amount is legally pledged but not fully paid upfront as cash.
• Capital Call: The process where the fund management requests a portion of the committed capital from investors as needed to execute investment strategies and operations.

BV Growth II Capital Structure

Our capital calls are strategically aligned with portfolio development and market conditions:

• First 4 Years: 20% of the commitment called annually.
• Final 2 Years: 10% of the commitment called annually.

This structured approach ensures that capital is deployed efficiently in sync with the fund's growth and investment pace.

The fund’s target size is a minimum of 50M USD. Scenario analyses indicate a hard cap of 100M USD.

In USD terms:

• Base case: ~35% annual IRR → approximately 4.5x MOIC
• Upside case: 50%+ annual IRR → 10x+ MOIC

Given the scalability of Applied-AI ventures, the fund carries high multiple potential within its strategy.