Yektaventures, the investment arm of Yektanet was introduced

Yektanet company unveiled its CVC named Yektaventures. Yektaventures is going to invest in teams and startups developed in order to grow and to complete the Yektanet value chain

The amount of Yektaventures fund was not announced, but Yektanet has invested between 5 and 20 billion tomans in 15 businesses so far.

According to the Iran digital economy annotation, This morning, the press conference of Yektanet was held at the company location of this group and “Yektaventures” was unveiled. Yektaventures is going to act as the investment arm of Yektanet in the form of a Corporate Venture Capitalist (CVC).

Mehdi Foroughi, the CEO of Yektant, said in this meeting that they started their work with Hamsan ads and over the past years, they have become a holding company, and now Yektant’s portfolio includes 15 small and large businesses, including Triboon, Jaryan, Novinhub, and Abarkelas, in which they have invested. And from now on, this portfolio is going to be managed in a more centralized way.

According to him, 65% of advertising budgets in the world are used for digital marketing, but in Iran, 10-20% happens.

Mohammad Reza Elmifard, the CEO of Yektaventures, said in this meeting that he was previously the investment manager of Yektanet and from now on, he is going to continue his activities as the CEO of this new group in Yektanet. Elmifard did not state the amount of budget or funds allocated for Yektaventures investments, but he implicitly confirmed that Yektanet has previously invested between 50 and 100 billion tomans in the companies that are now part of it.

Yektaventures is a CVC and its investment goal will be to complete the Yektanet value chain and invest in advertising and marketing, B2B businesses, media and content production. Yektanat managers announced that they are looking for investments in stage A and B startups that have a team and product and need capital for further growth.

The CEO of Yektaventures said that they have one of the fastest investment processes and they respond to investment requests within 7 days and finally reach a conclusion within 2 and a half months whether they will invest or not.

According to Elmifard, the investment model of Yektaventures is in three ways; Venture capital, startup creation with the participation of entrepreneurs and mergers and acquisitions. Investment is made in different forms and with different amount of shares according to the agreement with each business.

According to him, it will be a part of non-cash investment and the Yektanet communication network includes a wide range of companies and can create added value for businesses.

Mehdi Foroughi, the CEO of Yektanet, said that their investment period is 5 years and so far they have invested between 5 and 20 billion tomans in each of the portfolio businesses. According to Foroughi, 80,000 businesses have used Yektanet so far.

At the end of this meeting, Yektanet’s CEO announced that Yektanet’s IPO issue is in progress.