Ismail was a great-great grandson of Emperor Alexios IV of Trebizond and King Alexander I of Georgia. His mother Martha, better known as Halima Begum, was the daughter of Uzun Hasan, the ruler of the Turkoman Aq Qoyunlu dynasty, by his Pontic Greek wife Theodora Megale Komnene, better known as Despina Khatun. Despina Khatun was the daughter of Emperor John IV of Trebizond. She had married Uzun Hassan in a deal to protect the Empire of Trebizond from the Ottoman Turks.