Global venture capital firm Bek Ventures, previously known as Earlybird Digital East Fund, has raised $250 million for its Fund III to support early-stage startups originating from Europe, specifically Central and Eastern Europe, as reported by Vestbee. Additionally, Bek Ventures announced its rebranding and provided details of its spin-off from Berlin's Earlybird family.
- Earlybird Digital East Fund has operated as part of Berlin-based Earlybird Ventures since 2013. This August it confirmed that it would leave the Earlybird family after a decade as a brand licensee. As one of Earlybird’s three flagship funds, it has always maintained independent operations and an investment strategy, the firm's statement says. The fund has now rebranded as Bek Ventures.
- Bek Ventures has offices in London, New York, Luxembourg, and Istanbul. To date, the firm has invested in around 38 companies — including unicorns like the Romanian software firm UiPath and the Bulgarian spend management platform Payhawk — achieving realized returns of $2.4 billion.
“Another thing that sets Bek apart from other VC firms: 90% of our companies get a second check from us. We are selective about the number and nature of founders we back and the quality of investors we hire, which makes us relentless in supporting our founders’ success. Our focused engagement with them is how we help them as more and more European founders build from the US," Managing Partner at Bek Ventres, Mehmet Atici, commented in a press release.
- Beyond the name change, the Bek investment team and strategy remain unchanged — it will support early-stage startups originating from Europe, specifically CEE. Bek Ventures' new Fund III aims to invest in 20 startups, with 5 already backed, including two undisclosed ones. These include:
- Zeta Labs develops Jace, an AI assistant that handles complex tasks in web browsers.
- Proofs, which uses AI to speed up and cut costs in building proof-of-concept apps for API products.
- Grand Games, a mobile gaming company specializing in delivering immersive experiences within underexplored game genres.
- Bek's third fund was backed by a diverse group of investors, with 60% coming from Europe and 20% each from the US and Asia. These investors include major financial institutions, insurance companies, funds of funds, corporate investors, family offices, and successful entrepreneurs from around the world.
