# Finberg

Finberg is a Private Equity based in Istanbul, Turkey.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Istanbul, Turkey
- **Region:** Middle East
- **Address:** Büyükdere Cad. No: 129 Kat: 12, Esentepe Şişli, Istanbul, Turkey
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** finberg.com.tr
- **LinkedIn:** https://www.linkedin.com/company/finberg

## Regulatory record

- **Reports private funds:** No

## About

Finberg was established in 2018 as the corporate venture capital arm of Fibabanka, a subsidiary of Turkey's Fiba Group. The founding team, including İhsan Elgin and Gaye Or, structured the platform to execute both direct startup investments and fund commitments. Its capital base draws from the financial services conglomerate's own balance sheet rather than outside limited partners, anchoring its decision-making inside the bank. Finberg pursues a hybrid strategy splitting across direct deals and fund-of-funds allocations. On the direct side, it has backed companies spanning fintech, mobility, SaaS, and crypto infrastructure — confirmed portfolio positions include e-bike developer Toogo, crypto liquidity provider Aquanow, and cross-border remittance app TapTap Send. The fund commitment book covers 17 venture capital funds, with named relationships including Revo Capital (Turkey/Europe early-stage B2B/B2C tech), Mediterra Capital (Turkish mid-market private equity), and Quona Capital (emerging-markets fintech). Geographic coverage stretches from Turkey and Greece through Central and Eastern Europe, the Middle East, and into Southeast Asia and North America. Finberg's deal engine runs through four dedicated fund vehicles covering seed to pre-IPO exposure. Its team of six professionals, listed on the Istanbul-based firm's website, manages the portfolio alongside Fibabanka's broader financial infrastructure. A notable recent operational event: in 2025, Finberg partnered with CVC Bosphorus to run Rekor Başvuruyla, a startup-pitching program that surfaced new deal flow across the Turkish tech ecosystem. The firm has also built relationships with gender-lens fund Arya Women and gaming-focused Ludo Ventures. Finberg's architecture is unusual: a bank-owned investment platform that acts simultaneously as a corporate VC and an LP in outside funds. This dual mandate lets it capture direct early-stage upside while buying diversified exposure through manager relationships — all funded by Fibabanka's permanent capital, with no external fundraising pressure. The model effectively turns a commercial bank's balance sheet into a technology-access instrument for both Turkish startups seeking global distribution and international GPs wanting on-the-ground access to Turkey.

## Sectors

- FinTech
- Enterprise Software
- AI/ML
- Mobility & Transportation
- Digital Health
- Cybersecurity
- Media & Entertainment
- Energy Transition & Renewables
- ClimateTech
- E-commerce

## People

- İhsan Elgin — Team Member
- Gaye Or — Team Member
- Mustafa Arpacıoğlu — Team Member
- Ada Gülden — Team Member
- Kerim Özay — Team Member
- Yasemin Avcı — Team Member

## Questions

### How does Finberg source proprietary deal flow?

Finberg leverages Fibabanka's corporate ecosystem and its position within Fiba Group to access Turkish and regional startups. It also runs direct-sourcing events: in 2025 it partnered with CVC Bosphorus on the Rekor Başvuruyla program to surface early-stage Turkish tech companies. On the fund side, commitments to managers like Revo Capital and Mediterra Capital provide indirect deal exposure and co-investment lanes.

### Does Finberg participate in fund commitments or only direct deals?

Finberg actively participates in both. Its website reports investments in 17 venture capital funds alongside over 40 direct startup positions. Named fund relationships include Revo Capital, Mediterra Capital, Quona Capital, L-Stone Capital, and Ludo Ventures, spanning geographies from Turkey and Europe to Southeast Asia and Africa.

### What investment stages does Finberg typically target?

Finberg targets the full spectrum from seed to pre-IPO, executed through four strategically structured funds. Direct positions include early-stage Turkish startups such as Toogo and BiLira, as well as growth-stage companies like BitOasis and Wamo. Its fund commitments cover early-stage VC managers alongside mid-market private equity vehicles like Mediterra Capital.

### How is Finberg related to Fibabanka and Fiba Group?

Finberg was established in 2018 as the corporate venture capital arm of Fibabanka, which is itself a subsidiary of Fiba Group, a diversified Turkish conglomerate. The entire investment platform runs on Fibabanka's balance sheet and draws strategic support from the bank's retail, commercial, and digital banking ecosystem. No external limited partners are disclosed.

## Related profiles

- [Finback Investment Partners](https://altss.com/profile/finback-investment-partners)
- [Finbridge Ventures](https://altss.com/profile/finbridge-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/finberg

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