NEWSROOM

In the first three quarters of 2023, a new venture capital company has joined the global scene, which has seen investments of over $193 billion in more than 21,000 deals. This Netherlands-based venture capital firm made its first investment in a blockchain-based startup, aiming to target the Turkish, European, and Gulf markets.

TURKEY - Despite economic headwinds and market uncertainties, the venture capital ecosystem has had a resilient year. According to CB Insights data, over 21,000 deals worth $193 billion were invested in venture capital in the first three quarters of the year. Optimistic expectations for venture investments in 2024 are emerging, and a new addition has been made to the venture capital companies. Founded in the Netherlands by an international team with a vision to improve the world, ENA Venture Capital made its first investment in Utilify, a blockchain-based loyalty technology startup.

ENA Venture Capital Managing Partner Şefik Serdar, who shared his thoughts on the matter, said, "ENA VC, with an investment philosophy that focuses on startups and business ideas that aim to change the world by building next-generation advanced technologies, made its first investment in Utilify, a promising blockchain and NFT startup in Turkey."

First investment in blockchain-focused company

Highlighting Utilify's successful work in the blockchain field in Turkey, Şefik Serdar emphasized that Utilify is a software startup that serves as a tool for brands to create code-free loyalty programs using blockchain and NFT capabilities. He said, "In an era where customer retention costs are increasing, and users expect different approaches from traditional loyalty programs, Utilify transforms customer interactions into digital memories using blockchain and NFT technologies. Utilify has partnered with more than 150 brands, including Turkish Airlines, SONY, and some major sports clubs in Turkey. Utilify aligns with ENA VC's mission to invest in business ideas that work to build the technology infrastructure of the future."

Turkey,  Europe, and Gulf countries are the target markets.

Expressing their focus on startups in cloud computing, artificial intelligence, machine learning, blockchain, and cybersecurity, Şefik Serdar mentioned, "We will offer a range covering various financing intervals from pre-seed rounds to Series A. Additionally, we will provide our partner startups with capital and accumulated knowledge to add value. This way, we will facilitate verifying their ideas in the market, help them grow their market share, and reach the right users in the right markets. Our investment philosophy focuses on organizations building next-generation advanced technologies to change the world. To discover these organizations, we prioritize Turkey, Europe, and the Gulf markets."

“We will invest in founders who share our mission of changing the world,” said Şefik Serdar

ENA Venture Capital Managing Partner Şefik Serdar emphasized the critical role of technology in helping society progress, making the world a more livable place, and supporting economic growth.

“We have embarked on this journey with an international team that has managed global operations and worked in various levels of the business world. ENA VC prioritizes partnerships with founders committed to changing the world with the power of technology. For our investors and the companies in our portfolio, we support a journey of ethical and sustainable prosperity beyond mere financial gains and guide them on this path."