Intel’s corporate venturing unit is reportedly looking to open an office in Istanbul.
Intel Capital plans to open an office in Istanbul, news provider Private Equity News reported in February 2012. A person familiar with the situation said: "We are looking into putting someone on the ground, but it’s not for this week (or the week after that)."
Intel invested in two Turkey-based companies last year, Nokta, a media company, and Grupanya, a daily deals company, in its first investments in the region.
Marcin Hejka, managing director for Eastern Europe, Middle East and Africa at Intel Capital, said, according to Private Equity News: "Turkey in the past year has been growing faster than China. It has a large population and rich heritage of engineering skills – one third of European consumer products are made there. The country also has the potential to create a very liquid stock market."
Intel already has two portfolio companies in Turkey – online media company Nokta and social e-commerce company Grupanya – which it purchased in March and October last year respectively."
Intel Capital set up a $50m Turkey and Middle East fund in 2005.