IET - İş Asset Management Renewable Energy Technologies Venture Capital Investment Fund

The ultimate aim is to make investments so as to create synergies with İş Asset’s other venture capital funds’ investments in renewable energy generation.

Within this context, the Fund made its first investment in energy storage and acquired a 10% stake in Lithium Iron Phosphate ("LFP") based battery cell manufacturer Pomega Enerji Depolama Teknolojileri A.Ş. in December 2022. The company will produce battery cells, battery packs, battery cabinets and will also provide turnkey solutions for energy storage system design. Completion of the first phase of the manufacturing facility investment is expected before the end of the third quarter of the year.

The Fund's investments are valued twice a year, on June 15 and December 15, by PwC Yönetim Danışmanlığı A.Ş. The Fund's audit reports are prepared by one of the big four audit firms and published on our website.

Qualified investors can participate in the fund by placing a subscription order until December 15, 2023. Redemption of the shares will take place at the end of the fund’s duration. However existing shares can be transferred to other qualified investors, upon the founder’s approval, along the duration of the fund.

The duration of the Fund is 7 years, with the last 2 years being the liquidation period. At the end of this period, exit from investments can be realized through public offering, sale to existing shareholders or sale to third parties. Upon exit from investments, the fund units are redeemed and the price of the fund units is paid to the investors, including the profit generated in the fund during the investment period.

An annual portfolio management fee of 2,0% of the net asset value is paid from the fund portfolio.