Earlybird Digital East Fund (DEF), one of Earlybird VC’s spin-off funds, has launched €200M to support companies from Central and Eastern Europe, including the Balkans and Baltic countries. The news sends out a signal to tech companies in their Seed or Series A funding stages for a new investment opportunity. Up to this point, the new fund has made investments in fintech startups such as Romanian FintechOS and Bulgarian Payhawk, as well as in cyber and cloud security companies Picus and Binalyze.
The Earlybird Digital East Fund has previously invested in robotics process automation company UiPath, which was valued at over €9B in 2020 after its series E investment. The Fund has also supported a number of other companies such as oBilet.com, an online platform for travel tickets that is valued at almost €10.2M, as well as Turkish Vivense, a private equity firm with over €122.9M of funding raised. The Vivense deal of the DEF was the first sizable VC-to-PE exit in the region for 2020, Earlybird VC reported. Back in November, Mehmet Atici, a Turkish serial entrepreneur and founder of oBilet.com, became a partner in the DEF.
Earlybird VC has been managing 12 tech funds across Europe, altogether equalling over €1B. The VC has also accomplished 7 IPOs and 39 exits, thus standing out as one of the most active in the European ecosystem.
Expect more information soon.