Turkey-focused private equity investment firm TRPE Capital has announced the first close of TRPE Venture Partners Fund I. With a final target of US$25 million, the fund, which is expected close in 2014, will invest in Turkey-based seed and early stage information and communications technology companies. In recognition of its first two capital commitments from Canadian investment firm Wesley Clover and Turkish telecommunications and systems integration company Netas Telekommunikasyon, the fund will be commercially branded as Netas Wesley Clover Technology Fund. Five additional limited partners participated in the first close.