MD Kris Kemeny and director Eyal Fisher announced their departures from the Turkish group's corporate venturing unit, joining founding president Sinan Uzan.
Two more senior members of Tekfen Ventures’ five-person team have left the unit, Turkish engineering conglomerate Tekfen’s corporate venture capital arm.
Founder and president Sinan Uzan departed in November and has now been followed by managing director Kris Kemeny and director Eyal Fisher this week. None has disclosed future plans.
“After many years building and leading Tekfen Ventures, my time with Tekfen has come to a close,” Kemeny said in a LinkedIn post announcing his departure yesterday.
“I’m incredibly proud of the team, portfolio and partnerships we built, and grateful to the founders and co-investors I had the opportunity to work alongside.”
“I’m proud of the work we accomplished and grateful for the chance to have partnered with incredible founders, co-investors and team members on problems that mattered,” Fisher added, in his own post earlier today.
Tekfen set up the $65m fund in 2016. It has operated as a financially-driven investor, backing agriculture, manufacturing, construction and real estate startups.
The unit has invested in 14 companies and exited four, including agriculture technology developer Prospera, which was acquired for $300m in 2021, and lidar sensor developer Quanergy, which listed in a $1.4bn reverse merger in 2022 before filing for bankruptcy the same year.
Tekfen Ventures’ existing portfolio includes cybersecurity software producer Claroty, valued at $2.5bn in its last round in 2024, and Soft Machine, an enterprise analytics platform that raised money from Nvidia late last year.
Tekfen and Tekfen Ventures did not respond to requests for comment by press time.
