What We Do Asset Management

Pragma, through its investment platform Pragma Capital Partners, invests across venture growth, growth equity and buyout strategies to support visionary entrepreneurs and management teams in fast-growing, export-oriented and tech-enabled companies in Turkey.

The pursuit of our investment strategy entails a clear focus on 2 investment themes. We focus on:

  • Industrial companies that export value-added products and services to international markets, generating hard currency revenues, and have the potential to become regional or global franchises
  • Companies that operate within technology, technology-enabled and related growth industries

To date, we have invested in 14 companies through our multi-asset and single-asset funds, as well as in the form of principal investments, managing an AUM exceeding €400 million.

PORTFOLIO COMPANIES

Industrials

Bimed is the leading cable gland manufacturer in EMEA.

Pragma and its co-investors acquired a majority stake in Bimed in 2022.

Beta-Pak is the leading thermoform packaging machinery manufacturer in Turkey and Middle East.

Pragma and its co-investors acquired a majority stake in Beta-Pak in 2022.

Hisar is a leading global manufacturer of undercarriage systems for heavy mining machines and cranes.

Pragma acquired a majority stake in Hisar in 2015.

Muratdere is a mining development company focusing on metals such as copper, molybdenum, lead and zinc.

Pragma acquired a majority stake in Muratdere in 2012.

MAT designs and manufactures water filtration, water treatment, ozone and UV disinfection equipment for recirculating aquaculture systems (RAS), aquarium life support systems (LSS), industrial water treatment facilities as well as zoological and recreational applications.

Pragma, through its Industrial Buyout Fund, acquired a joint-control stake in MAT in 2024.

Technology

Binalyze is a leading cybersecurity firm focusing on digital forensics and incident response.

Pragma has acquired a minority stake in Binalyze in 2020.

Enbiosis is a biotechnology company providing AI-based microbiome diagnostics and therapeutics.

Pragma has acquired a minority stake in Enbiosis in 2021.

Dcey (Davet Çok Elbisem Yok) is the leading Turkish digital fashion rental company.

Pragma acquired a minority stake in Dcey in 2021.

Cellestetix is a biotechnology company focused on the discovery, development, and commercialization of plant-based exosome formulas for regenerative beautycare applications.

Pragma, through its Technology Opportunities Fund, acquired a minority stake in Cellestetix in 2023.

Unite is a leading digital workforce service provider specializing in intelligent automation. Unite’s consumption based digital workforce platform encompasses RPA, IDP, Conversational AI, Communication Mining and a myriad of ML and AI technologies as well as end-to-end service management.

Pragma, through its Technology Opportunities Fund, acquired a minority stake in Unite in 2023.

Zaxe is the leading 3D printer manufacturer in Turkey providing end-to-end additive manufacturing solutions through its holistic ecosystem of plug-and-print products with high-speed printing and AI-driven smart features, in-house developed software and printing materials.

Pragma, through its Technology Opportunities Fund, acquired a minority stake in Zaxe in 2023.

Zoi is a leading provider of sustainable bioremediation solutions for wastewater treatment.

Pragma, through its Technology Opportunities Fund, acquired a minority stake in Zoi in 2023.

Malwation is the leading cybersecurity firm focusing on malware prevention, analysis, intelligence and simulation through its holistic analysis platform features sandboxing, binary emulation, and CDR (Content Disarm and Reconstruction) technologies.

Pragma, through its Technology Opportunities Fund, acquired a minority stake in Malwation in 2023.

Idenfit is a cloud-based HRM (Human Resources Management) platform that enhances transparency, efficiency, and effectiveness through its holistic and tailored solution with dynamic modules.

Pragma, through its Technology Opportunities Fund, acquired a minority stake in Idenfit in 2024.