KPMG Turkey has announced Startup Investment Report.
Evaluating the performance of the entrepreneurship ecosystem in the nine months of the year, the report reveals the rising interest in digital platforms after the pandemic. With the rapidly increasing demand, investors’ interest in technology companies also increased significantly, according to the report. The total amount of investment in the first nine months of the year in Turkey realized 2.2 billion dollars on tech. ‘Turkey Startup Investment Report’ revealed the development of initiatives in the tech ecosystem.
Investors interest in digital service companies has increased significantly
Despite the ongoing global pandemic, investors are focusing on new business areas. Among these, it is observed that, investors’ interest in technology and digital service companies has increased significantly. The total investment amount in the first nine months of 2020 is around 2.2 billion dollars. Jennifer Kaçmaz, KPMG Turkey Mergers and Acquisitions Consulting Leader, noted that with the effect of the pandemic, interest in digital platforms has also increased in parallel with the increase in the time spent at home in the world. Kaçmaz drew attention to the increasing interest in mobile games and digital entertainment platforms than ever before.
Game industry became the star of 2020
According to the report, this year’s pioneering transactions are as follows: The biggest transaction in the first three quarters of the year was the US-based Zynga’s acquisition of the Turkish company Peak Games for $ 1.8 billion in June. Peak Games, by surpassing $ 1 billion, became Turkey’s first ‘unicorn’ company. The second biggest transaction that took place in the same period was Zynga’s acquisition of the Turkish company Rollic Games in August for 168 million dollars. In the first quarter of 2020, startups received a total investment of 19 million dollars based on the investments announced with 30 transactions, while this investment amounted to 28.3 million dollars with 27 transactions in the second quarter, and 45.8 million dollars with 44 transactions in the third quarter. With 8 transactions in the first three quarters and a transaction volume of approximately $ 2 billion, the game industry became the star of 2020 as the leading sub-sector.