Bek Ventures, formerly known as Earlybird Digital East Fund, has announced the launch of its over €235 million third fund to invest in early-stage technology startups. Recognised among Europe’s best-performing venture capital firms, Bek Ventures raised funds from international financial institutions, insurance companies, funds of funds, corporate investors, family offices, and experienced entrepreneurs, primarily from the US and Europe.
Bek Ventures has a strong track record of successful investments, backing unicorns such as UiPath and Payhawk. The firm’s realised returns total $2.4 billion, and HEC has recognised Bek as a top-performing VC firm globally since 2010. With Fund III, Bek has already invested in five companies, including Zeta Labs, which develops AI agents, and Proofs, which uses AI to accelerate the creation of proof-of-concept applications.
Cem Sertoglu, Managing Partner said: “Early-stage venture needs to stay small and focused to be successful because at the earliest stages, the most valuable thing we can provide our founders is time and attention,” continuing with: “We, unfortunately, had to turn down LPs for this fresh fund because of our belief in discipline in fund size and strategy. Our strategy has helped us maintain top performance for the last decade, and we intend to double down with this fund and our new identity.”
Bek Ventures takes a distinctive approach, providing follow-up funding to 90% of its portfolio companies. Mehmet Atici, Managing Partner said: “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.”
The firm focuses on European founders, particularly those from Central and Eastern Europe, leveraging the region’s strong technical talent to build globally ambitious companies. Currently, 50% of Bek’s portfolio operates from the US, reflecting its support for European founders expanding internationally.
Read the orginal article: https://www.eu-startups.com/2024/11/luxembourg-based-bek-ventures-launches-an-over-e235-million-fund-to-support-early-stage-tech-startups/
