Türkiye Wealth Fund strengthens economic sovereignty ahead of 10th anniversary

The Türkiye Wealth Fund (TVF), which manages strategic
partnerships of state-owned enterprises, has so far invested $13
billion. With 34 companies operating in strategic sectors such as
finance, technology, telecommunications, transportation, logistics,
energy, mining, food, and agriculture — along with 2 licenses and
46 properties under its umbrella — the Fund holds total assets
worth 12.7 trillion Turkish lira. As Türkiye’s largest holding
company and the biggest investor on Borsa İstanbul with its
publicly listed companies valued at $25 billion, TVF is preparing
to celebrate its 10th anniversary.

At a roundtable meeting in Istanbul, Türkiye Wealth Fund CEO
Arda Ermut shared insights into the Fund’s contribution to the
national economy, its ongoing projects, and its growing global
profile. Joined by Deputy CEO Mahmut Kayacık, Ermut emphasized that
TVF, with $360 billion in total assets, now ranks among the world’s
top ten sovereign wealth funds.

“We have substantial cash reserves,” Ermut noted. “It’s
gratifying to see that we’ve transitioned from being a fund that
seeks investment opportunities to one that now receives investment
offers. We’re getting many proposals from both domestic and
international investors, and we are evaluating all of them
carefully.”

Providing details on the operations of the Türkiye Technology
Fund (TTF) — a venture capital initiative launched from scratch —
Ermut said:

“Rather than investing directly in startups, TTF operates as a
fund of funds, investing in venture capital and private equity
funds. Its mission is to catalyze the development of Türkiye’s
capital markets and deepen its entrepreneurship ecosystem. Over the
past two years, TTF has committed over $100 million across more
than ten funds. These include not only Türkiye-based funds but also
well-established, internationally recognized ones.”

Ermut highlighted particular interest in petrochemical and
mining investments, noting that Türkiye Maden currently holds 25
licenses.

“Drilling and geological studies totaling 300,000 meters have
been completed across four priority sites,” he said. “In
Balıkesir’s İvrindi district, we discovered gold reserves worth
$2.5 billion, while in Kastamonu’s Taşköprü region, we found
high-grade copper deposits. Our goal is to channel all of these
resources into the national economy.”

Deputy CEO Mahmut Kayacık noted that the Fund’s equity grew by
16 percent last year, surpassing 2 trillion lira, while 2024
results included 548 billion lira in operating profit and 371
billion lira in net profit.

“Since 2024, TVF has secured $5.3 billion in financing,” Kayacık
said. “More than $4.5 billion of this came from international
markets, while $1.8 billion was raised through Islamic finance
instruments.”

Arda Ermut also underlined efforts to produce domestically the
core chemical and plastic raw materials that Türkiye currently
imports.

“Türkiye’s average annual import bill for petrochemical products
stands at around $25 billion, while domestic production meets less
than 10 percent of demand,” he explained. “Land surveys have been
completed, and discussions with both domestic and international
strategic partners are ongoing.”

Within the framework of the Eastern Mediterranean Petrochemical
Project, TVF plans to use approximately 4 million tons of naphtha
and 1.3 million tons of LPG annually to produce 4.1 million tons of
marketable petrochemical products.

“Once the project, which is planned to be established in the
İskenderun Gulf region, is completed, we aim to reduce imports in
these product categories by about 50 percent,” Ermut said.

Through these strategic investments, Türkiye Wealth Fund aims to
strengthen national industry, reduce import dependency, and elevate
Türkiye’s position as a global economic actor on the eve of its
10th anniversary.