Global venture capital firm Bek Ventures, formerly known as Earlybird Digital East Fund, has raised $250 million for its third fund to invest in early-stage startups across Europe, with a focus on Central and Eastern Europe (CEE). The firm also announced its rebranding following its departure from Berlin-based Earlybird Ventures, where it operated as an independent fund under a brand license since 2013.
Bek Ventures, with offices in London, New York, Luxembourg, and Istanbul, has an impressive track record, having invested in 38 companies, including Romanian software unicorn UiPath and Bulgarian spend management platform Payhawk. These investments have delivered realized returns of $2.4 billion. Managing Partner Mehmet Atici highlighted Bek’s selective approach, stating that 90% of its portfolio companies receive follow-on investments, underscoring the firm’s deep engagement and commitment to founder success.
Fund III will support 20 startups, five of which are already backed. These include:
- Zeta Labs, which develops Jace, an AI assistant designed to handle complex tasks directly in web browsers.
- Proofs, leveraging AI to reduce the time and cost of building proof-of-concept apps for API products by up to 10x.
- Grand Games, a mobile gaming company focused on immersive experiences in niche game genres.
Bek’s latest fund attracted a diverse group of investors, with 60% from Europe, and 20% each from the US and Asia. Investors include financial institutions, insurance companies, funds of funds, corporates, family offices, and successful entrepreneurs worldwide.
While the name and brand have changed, Bek Ventures’ strategy remains consistent: to support transformative early-stage startups from the CEE region and help European founders expand globally, particularly to the US.
Featured image: Credit: Bek Ventures
