Turquoise Partners

Founder and CEO Ramin Rabii leads the firm's investment strategy. The firm does not publicly name its full investment committee, but strategic decisions are concentrated in Tehran-based leadership with sector-specialist teams across public equities, venture capital, and private equity. Rabii's background includes experience in Iranian and international financial markets prior to founding Turquoise in 2005.

Turquoise sources through a proprietary domestic network built over two decades of operating as a private-sector institution in Tehran. The firm's venture arm identifies early-stage Iranian technology companies through founder relationships, while its private equity practice targets expansion-stage and turnaround opportunities sourced from Iran's corporate sector. This sourcing model relies on direct origination rather than intermediary-driven deal flow, given the absence of an established investment-banking ecosystem.

Yes, Turquoise launched the country's first offshore fund structure to provide foreign investors regulated access to Iranian equities. The firm navigated sanctions-era legal frameworks to establish vehicles in jurisdictions permitting Iranian securities investments. Access is subject to prevailing sanctions regimes and investor eligibility requirements under the fund's domicile.

No. Turquoise Partners is a private-sector financial group founded in 2005, not linked to Iranian state institutions or sovereign wealth. This structural independence differentiates it from the majority of large-scale financial entities operating in Iran and gives it flexibility in investment decisions that state-affiliated competitors may not have.

Turquoise targets early-stage technology companies through its venture capital arm and expansion or turnaround-stage businesses through private equity. The public-equities fund covers listed Iranian companies across market capitalizations on the Tehran Stock Exchange. This multi-stage approach spans seed-stage startups to mature public companies.

Turquoise primarily executes direct deals across its venture, private equity, and public-equities strategies rather than committing to external funds. The firm operates as a direct investor into Iranian companies and public securities, though its offshore fund structure means foreign investors commit to Turquoise's own vehicles.

Turquoise targets commercial sectors including fintech, enterprise software, healthtech, and energy transition. The firm's compliance architecture is designed around sanctions considerations, and its offshore fund operates in regulated jurisdictions. The firm does not publicly confirm or deny specific investment exclusions beyond what its fund documentation specifies.