The latest $100m fund will focus on Turkey after the two firms previously set up a $100m fund focused on Africa last year.

GE invested $55m in 12 companies in November from its $200m Ecomagination competition, including FMC-Tech.

Yandex sold more than 52 million ordinary shares at $25 each compared to a planned $22 to $24 range, for an initial market cap of about $8bn before a 55% first day pop in its share price.

Takahiro Mukahira of MP Healthcare Venture Management will be a board observer at GenKyoTex.

German internet entrepreneur Stephan Uhrenbacher, the founder of the local review site Qype and the former head of northern European operations for the travel booking site Lastminute.com, launched 9flats in February.

3M New Ventures has invested in GoNano Technologies, a developer and manufacturer of nanomaterials for pollution control and sensory technologies, and Ecovative Design, which uses mushrooms for packaging.

In January, Intel Capital, the corporate venturing unit of US-listed semiconductor company Intel, led the investment in Sulfurcell.

Gamesa has already bought 28.7% of SkyBuilt Power and 25% in WorldWater & Solar Technologies from its corporate venturing fund.