Earlybird Digital East, which separated from Berlin-based Earlybird Venture Capital in August, decided to continue its journey under the name "Bek Ventures". The rebranded venture capital fund has launched a new $250 million fund.
Bek Ventures, which has achieved great success in the European startup ecosystem and in Turkey, has achieved a total return of 2.4 billion dollars, generating more than 10 times the income from its investments over the last 10 years. The VC, which invests in 20 startups on average per fund, has participated in the follow-up rounds of 90% of the startups in its portfolio.
Along with the name change, Bek Ventures, which has raised a new $250 million fund to support early-stage technology startups in neglected markets to go global, has domestic and foreign startups such as Midas, Upstash, Picus, Obilet, Payhawk and UiPath in its portfolio.
Cem Sertoglu, General Partner of Bek Ventures, who assessed the investment ecosystem slowing down after the pandemic, said in a statement to Bloomberg: "Funds are becoming increasingly large and multi-stage, which has a negative impact on performance." Sertoglu added that the entrepreneurs in the target markets are well aware of the value of the dollar.
AI optimist Beck Ventures has already invested in Poland-based AI startup Proofs and Zeta Labs, founded by former Meta engineers, with its new fund.
