Berlin, Germany-based Earlybird Venture Capital held the initial closing of its new early stage fund, at $110m.
Backers included the European Bank for Reconstruction and Development, the European Investment Fund, the International Finance Corporation, Turkey’s dedicated fund of funds and co-investment program Istanbul Venture Capital Initiative (iVCi), and family offices and entrepreneurs around the globe.
Led by Roland Manger, an original founder of Earlybird Venture Capital, Cem Sertoglu and Evren Ucok, as well as Silicon Valley serial entrepreneur Ali Kutay, Earlybird Digital East Fund (EDEF), which has a final target of $130m, will focus on the Turkey and Central and Eastern Europe (CEE) markets by making early stage and early growth investments in consumer Internet, mobile and enterprise technology companies originating from those areas.
FinSMEs
21/01/2014