In this episode of Invest in Türkiye Talks, we hosted GlobalTurk Capital Founder and Managing Partner Barış Öney to delve into the intricacies of mergers and acquisitions (M&A) in Türkiye, shedding light on the challenges and opportunities within Türkiye's investment landscape.
Öney established GlobalTurk Capital 14 years ago with a vision to provide comprehensive M&A advisory services. Unlike traditional advisory firms that conclude their role once a transaction is complete, GlobalTurk Capital continues to support companies through the post-acquisition phase. This approach is crucial, as the integration of foreign and local business cultures can sometimes be complex and requires careful management.
In an overview of Türkiye's investment landscape, Öney highlights its transformation over the past decade. He notes that Türkiye was once characterized by a strong consumer story, with significant investments flowing into sectors such as e-commerce, retail, and healthcare. However, as the market matured, the focus shifted toward export-oriented manufacturing and production. This transition has attracted international capital, particularly in industries that emphasize value addition and international expansion.
Öney emphasizes that Türkiye is not just a consumer market but a generator of companies, with thousands of new ventures emerging each year. This vibrant entrepreneurial spirit presents a wealth of opportunities for investors looking to tap into various sectors, from technology to renewable energy.
Identifying key sectors that are currently attracting investment, Öney highlights the burgeoning mobile gaming industry in Türkiye, which has seen a surge in international investments. Additionally, renewable energy is described as a "hot" sector, reflecting a global shift toward sustainable practices and energy efficiency.
The podcast also touches on the importance of digital transformation, particularly in the context of artificial intelligence and generative technologies. Öney emphasizes that companies are increasingly focusing on adapting to these technological advancements to position themselves for future growth. This emphasis on green investment and digitalization is seen as a cornerstone of Türkiye's new FDI Strategy, aligning with global trends toward sustainability and innovation.
As the first country representative outside the US of the Global Private Capital Association (GPCA), formerly known as the Emerging Markets Private Equity Association (EMPEA), Öney shares his perspective on the importance of networking and collaboration within the investment community. He discusses the annual events hosted by GlobalTurk Capital in London and Istanbul, which serve as platforms for connecting investors with promising Turkish companies. These events have reinvigorated interest in Türkiye, attracting attention from hedge funds, family offices, and other investment entities. They have also been instrumental in highlighting Türkiye's economic potential and the government's efforts to improve the investment framework. Notably, these conferences have featured prominent figures, including government officials, who discuss Türkiye's macroeconomic policies and investment opportunities.
While the podcast paints an optimistic picture of Türkiye's investment potential, it does not shy away from discussing the challenges that lie ahead. Öney acknowledges that geopolitical factors, economic fluctuations, and regulatory changes can impact investor confidence. However, he remains hopeful, citing the Turkish government's efforts to promote investment and create a favorable business environment. Öney believes that with patience and the right strategies, investors can find lucrative opportunities in Türkiye. The government's ongoing efforts, coupled with private sector initiatives, are expected to create a conducive environment for sustained FDI.