On July 10, 2024, a protocol was signed by Minister Mehmet Şimşek outlining the establishment of a $50 million Investment Bank Upper Fund as part of the Türkiye Development Fund initiative announced in May. The agreement facilitates resource allocation commitments between Türkiye Development and Investment Bank and aims to foster the development of the venture capital ecosystem in Turkey. This strategic move is expected to enhance investment opportunities and support economic growth within the country.
