Maxis Venture Capital Portfolio Management Company and Mada Venture Capital have jointly invested in Turkey's growing Wood and Building Products company, ORKA Banyo.
Established in 1992 as ORKA Wood and Building Products Industry Inc., with a focus on the sale of construction materials, ORKA Banyo has specialized exclusively in bathroom furniture since 1994, addressing market demands for high-quality services. With a wide range of products, from bathroom cabinets to accessories, ORKA Banyo shapes living spaces with designs that suit every budget and space.
For over a quarter-century in the bathroom furniture industry, ORKA Banyo has combined its advanced technology and innovative design strength with professional craftsmanship and years of experience to offer customers eco-friendly, aesthetic, functional, high-quality, and fast solutions. Nearly all of its energy consumption is met by solar power, and the company continues production in its 100,000 sqm open-area and 50,000 sqm closed-area factory in Düzce. ORKA Banyo's sub-brands include River, BonitoBagno, and Orka Plus, while another brand, nob., earned the prestigious A'Design Award in 2024 for its innovative designs.
A leader in the domestic market for 30 years, ORKA Banyo is present in 10 million homes across Turkey and has reached consumers in 85 countries worldwide. With over 450 sales points in 81 cities in Turkey, the brand continues to grow, increasing its market share and brand recognition every day. Aiming to be a preferred bathroom brand in international markets, ORKA Banyo generates nearly 40% of its revenue from exports and also manufactures for international furniture brands.
With investments from Maxis and MADA, the company aims to strengthen its position in global markets. Ömer Yılmaz, Chairman of the Board of ORKA Banyo, expressed his excitement, saying, “We are thrilled to embark on a long-term journey with Maxis Venture Capital, which has made significant investments in various fields over the years, and with Mada Venture Capital, which has achieved remarkable success in international partnerships. With this agreement, our goal is to reach 120 countries.”
Maxis Managing Director Özgür Temel spoke at the signing ceremony: “Our aim is to meet the risk-adjusted return expectations of investors by implementing successful practices in different investment themes in Turkey. We believe that ORKA Banyo presents an investment opportunity aligned with our objectives and has substantial growth potential in the future. Additionally, partnering with Mada Venture Capital, which has brought successful international growth examples to our country, will accelerate ORKA Banyo’s ability to reach its goals.”
Mehmet Ali Yalçındağ, Chairman of Mada Venture Capital, added, “Our family office's investment strategy is to enter growing business sectors with the right partners who share our work culture. We prioritize Turkish companies with international growth potential. Together with our partners, we believe we can create a globally recognized brand from Turkey. Additionally, we are excited to be partnering with Maxis, part of the İşbank Group, with whom we’ve always enjoyed working. The smooth collaboration during the ORKA Banyo transaction signals that we may engage in further investments with Maxis in the future. Best wishes to all of us."
Maxis Venture Capital Portfolio Management Inc. ("Maxis")
Founded in 2017 within the İşbank Group, Maxis Venture Capital Portfolio Management Inc. aims to create and manage venture capital investment funds by bringing together long-term, qualified investors with high-growth potential startups. Maxis boasts one of Turkey's most experienced investment teams and has established and manages 11 funds with different themes, focusing on early and growth-stage companies. With a portfolio exceeding $400 million, Maxis continues to contribute to the Turkish economy, aiming to create sustainable value through management contributions that facilitate rapid growth and institutionalization of the invested startups.
MADA Venture Capital ("MADA")
Since 2018, MADA has managed the Yalçındağ family’s venture capital and real estate investments. MADA invests in growth-oriented medium-sized companies and sectors that create value in Turkey and various other regions. MADA focuses on growth strategies centered around technology while transforming local companies into international enterprises. Recent investments include companies such as BluTV (sold to Warner Discovery), fintech app Ortak, Turkey's largest co-working space provider Kolektif House, integrated communication platform VimeSoft, customer service technology provider Champs, medical tourism company Hop.Health, production firms MAY Productions, SAGA, Curious Gremlin, and real estate investments.