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  • February 2024 (Revised April 2024)
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Finberg: Corporate Venture Capital in Türkiye

By: Paul A. Gompers and Namrata Arora
  • Format:Print
  • | Language:English
  • | Pages:25
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Abstract

In December 2021, Murat Özyeğin, Chairman of Fiba Holding, along with Ömer Mert and İhsan Elgin, engaged in discussions about the future of United Payment, a fintech company in which Finberg, a subsidiary of Fibabanka, held a 20% stake. Finberg, established in 2018 as Türkiye's first fintech-focused corporate venture capital firm, had invested significantly in United Payment, contributing to its substantial growth in transaction volume from $352 million in 2019 to almost $865 million in 2020. With an offer from OYAK, Türkiye's largest pension fund, to invest in United Payment, the leadership team deliberated on whether to accept the proposal or wait for further growth opportunities, considering the company's plans for international expansion and the competitive landscape in the fintech sector. The decision involved weighing the potential benefits of OYAK's investment against the risks of stiff competition and its implications on United Payment's competitive advantage and profitability.

Keywords

Corporate Venture Capital; Technology; Return On Investment; Venture Capital; Investment; Strategy; Technological Innovation; Competition; Valuation; Acquisition; Business Startups; Information Technology Industry; Banking Industry; Middle East; North Africa; Turkey; Ukraine; Romania; Poland

Citation

Gompers, Paul A., and Namrata Arora. "Finberg: Corporate Venture Capital in Türkiye." Harvard Business School Case 824-175, February 2024. (Revised April 2024.)
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About The Author

Paul A. Gompers

Entrepreneurial Management
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Related Work

    • February 2024 (Revised April 2024)
    • Faculty Research

    Finberg: Corporate Venture Capital in Türkiye

    By: Paul A. Gompers and Namrata Arora
Related Work
  • Finberg: Corporate Venture Capital in Türkiye By: Paul A. Gompers and Namrata Arora
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