Turkish investment fund valued at USD 2 billion appoints Romanian to lead expansion
The Turkish investment fund Metis Ventures, focused on the IT niche and currently holding nearly USD 2 billion in portfolio assets, appointed Romanian Mircea Ghiță to lead its expansion operations in Central and Eastern Europe.
Mircea Ghiță was the country manager for Romania at tech investment platform SeedBlink until this spring, investing in companies such as Druid AI and FlowX, according to Profit.ro.
Metis Ventures, based in Istanbul, is now looking to invest in 8-10 startups over the next 12 months, with investment tickets ranging from EUR 500,000 to EUR 3 million, in AI applications, cybersecurity, FinTech, and Digital Health.
The fund is partnering with InnovX, a platform that supports innovative companies (start-ups, scale-ups, and mid-caps) with exponential growth potential and helps them internationalize towards global innovation centers in the EU, UK, USA, Middle East, and Latin America.
Metis Ventures has been investing in technology companies for over a decade. Since 2020, it has invested through three vehicles - TechOne Ventures, LogoVentures, and TwoZero Ventures - primarily backed by private investors from Fortune 500 companies.
The current portfolio includes 58 companies from 27 countries, such as Miros AI, Quin AI, Brand Defense, Kamion, Getmobil, and Cognitive. In the past four years, the fund has done several exits, including the acquisition of BluTV by Warner Bros and the acquisition of Tridi by Xeometry.
(Photo source: Ragiboglu | Dreamstime.com)