Earlybird Venture Capital Holds US$110 Million First Close for Early-stage Fund (CEE and CIS)

Source: Earlybird Venture Capital

European venture capital firm Earlybird Venture Capital has held a first close on its latest early-stage fund, Earlybird Digital East Fund (EDEF), with US$110 million in capital commitments. The fund, which is targeting US$130 million, will invest in consumer internet, mobile and enterprise technology companies originating from Turkey and CEE. Investors in the fund include development finance institutions European Bank for Reconstruction and Development, European Investment Fund and International Finance Corporation and Turkey-dedicated fund of funds Istanbul Venture Capital Initiative, as well as family offices and entrepreneurs.