The fund marks the first health-focused venture capital fund in Türkiye established by foreign investors
International healthcare investment firm BioScience Managers, in partnership with Maxis, a subsidiary of Türkiye İş Bankası, launched the BioScience Managers Venture Capital Fund, marking the first health-focused venture capital fund in Türkiye established by foreign investors.
The fund was introduced at an event attended by İş Bankası Deputy Chief Executive Officer Sezgin Lüle, BioScience Managers Managing Partner Jeremy Curnock Cook, BioScience Managers Türkiye Managing Partner Dr. Işıl Güney, and representatives from the country’s entrepreneurship ecosystem.
The BioScience Managers Venture Capital Fund will focus on health technologies, biotechnology, genetics and digital health. The target fund size is set at $100 million, with plans to make 10 to 12 investments, typically ranging from $5 million to $10 million per company.(By the way I have a story here about Workup, Türkiye İş Bankası entrepreneurship program)
The fund is managed by Maxis, which has overseen 17 funds and completed more than 100 investments since its establishment, reaching nearly $500 million in assets under management. BioScience Managers, which has more than 20 years of experience in fund management, will provide strategic guidance, citing annual returns of more than 20% from its global healthcare technology investments over the past two decades.
Speaking at the event, Lüle said the new fund reflects growing global confidence in Türkiye’s innovation capabilities. He described the initiative as a key step not only for the startup ecosystem but also for the future of transformative solutions in health technologies. Lüle said the fund aims to support Türkiye’s transition from a technology consumer to a global technology producer.
Sezgin Lüle, Deputy General Manager at Türkiye İş Bankası
Lüle noted that deep technologies spanning biosciences, genetics and digital health rank among the most critical and high-impact sectors worldwide. He said the fund is designed to unlock Türkiye’s medical and scientific potential by leveraging the country’s strong healthcare infrastructure and talent base, while helping convert scientific knowledge into globally competitive, high-value assets. He added that the fund is expected to help position Türkiye as a hub for next-generation technologies and promote a world-class innovation culture.
BioScience Managers Türkiye Managing Partner Dr. Işıl Güney said the firm has completed more than 200 healthcare investments to date and has led over 40 initial public offerings and mergers. She said BioScience Managers’ funds have delivered annual net returns exceeding 20%.
Maxis Venture Capital Chief Executive Officer Özgür Temel described the fund’s launch as a milestone for Türkiye’s startup ecosystem. He said the partnership with a globally experienced life sciences investor will provide not only financing for Turkish-founded startups but also significant know-how transfer to the local market.
