Deep Tech's Financing Problem
Serhat Cicekoglu of Sente Ventures
What happens after a deep tech startup has proven its technology? What if the next step isn’t hiring more engineers or acquiring more users—but building a $200 million factory?
That is the problem my latest guest, Serhat Çiçekoğlu, Managing Partner at Sente Ventures, is trying to solve. In this new episode of TRVC – The Turkish VC Podcast (in English), we explore one of the least-discussed corners of venture capital: non-dilutive project financing for deep tech startups.
Instead of taking equity, Sente Ventures finances the construction of first-of-a-kind manufacturing facilities, helping founders bridge the gap between a successful pilot and full-scale commercialization.
Along the way, we discuss:
Why deep tech requires a fundamentally different financing model than software startups
Why commercialization—not technology—is often the biggest hurdle
How project finance complements venture capital rather than replacing it
Turkey’s opportunities—and shortcomings—as a deep tech ecosystem
Why the venture industry may need to rethink how it finances capital-intensive innovation
🎙️ Watch the full episode here:
(also available on Spotify and Apple Podcasts)
A while ago, someone asked me:
“Are there really more than 10 people to do a Turkish VC podcast episode with?”
This is now Episode 31 on my journey to 100 conversations with venture capital investors and ecosystem builders in Turkey and beyond.
The more conversations I have, the more convinced I become that we’ve only scratched the surface. There are so many thoughtful investors and ecosystem builders with unique perspectives still to feature. Yes the ecosystem is brand new, but that makes it all the more exciting.
If you’ve been enjoying these conversations, I’d love to have you along for the journey.
Subscribe to the YouTube channel and join me for the ride toward 100 conversations.
As always, I’d love to hear your thoughts after you’ve listened.
Yunus