BEK Ventures Launches $250M Fund III for Early-Stage Tech Companies

Team S · 2024-11-18T14:16:29.000Z

BEK Ventures, formerly known as Earlybird Digital East, has announced the launch of its $250 million Fund III, aimed at investing in early-stage technology companies. The fund, which was oversubscribed three times, has attracted a diverse mix of investors including global financial institutions, insurance companies, funds of funds, corporate investors, family offices, and established entrepreneurs from the US and Europe. With offices in London, New York, and Istanbul, BEK Ventures focuses on backing founders with roots in Central and Eastern Europe, a region known for producing ambitious tech talent with global aspirations. The firm has a track record of success, having achieved returns of $2.4 billion over the last decade and investing in unicorns such as UiPath and Payhawk. Fund III has already made investments in five companies, including Zeta Labs and Proofs. Managing Partner Cem Sertoglu emphasized the value of a small, focused early-stage venture firm in providing time and attention to founders. The firm maintained discipline in fund size and strategy, turning down some limited partners to preserve its approach. Mehmet Atici, another Managing Partner, highlighted BEK's commitment to supporting portfolio companies, with 90% receiving a second investment. The firm's engagement extends beyond financial support, offering expertise, talent support, and connections to further investment opportunities. BEK Ventures aims to continue its top performance with this new fund and identity, supporting European founders building companies from the US, where 50% of their portfolio companies currently operate.

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BEK Ventures Launches $250M Fund III for Early-Stage Tech Companies | Newnex