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Earlybird, a well-known Germany-based venture fund with investments ranging from Berlin-based productivity startup Wunderlist, German photo sharing app EyeEm, Turkish Peak Games (world’s number three social games company) and of course Czech SocialBakers – has now officially gone East. The VC has just announced initial closing of its 130 million Euro early stage fund with commitments from EBRD, European Investment Fund, International Finance Corporation and Istanbul Venture Capital Initiative. So far 110 million have been committed.
The fund will concentrate on early stage and early growth investment in Central and Eastern Europe and Turkey, joining 3TS Capital and our sponsor MCI Management to back emerging success stories in the region. The head of Earlybird Digital East Fund for CEE markets is former Intel Capital’s Dan Lupu, based in Romania.
Actually, it is about time Point Nine Capital investees picked up futher rounds of funding.
The fund has already filtered through 1300 investment opportunities over the past 18 months, and has either closed, or advanced in negotiations with a number of startup teams.
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