Given the large fund size, MEVP is likely to focus on larger transactions beyond the seed and series A stages, and increasingly in the Series B and C stages. In Turkey specifically, the availability of capital in the latter stages is lower than that in the former stages, so this move makes strategic sense for investments in Turkey. I imagine that the same holds true for the MENA region.
A better way to look at the difference is in terms of population. 424 million people live in MENA, in contrast to 79 million in Turkey. This factor of 5.4X is much smaller than the greater than 10X difference in the funding received by MENA startups relative to those in Turkey.
Another way to compare MENA and Turkey’s startup funding levels is as a share of each region’s GDP. $80M is ~0.011% of Turkey’s $718B GDP while $815M is 0.026% of MENA’s $3.141T GDP.
In other words, no matter how you look at it, MENA startup funding in 2016 was well ahead of that of Turkey.