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This article was published on January 21, 2014


    Earlybird raises $110m Digital East Fund focused on startups in Turkey and Central Eastern Europe

    Earlybird raises $110m Digital East Fund focused on startups in Turkey and Central Eastern Europe
    Ben Woods
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    Ben Woods

    Europe Editor

    Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional online poker player. You can contact him via Twitter or on Google+.

    The venture capital firm Earlybird has announced that it has closed its new fund for startups in Turkey and Central Eastern Europe after raising $110 million towards its goal of $130 million.

    The cash for Earlybird’s Digital East Fund (EDEF) has come from the likes of the European Bank for Reconstruction and Development, the European Investment Fund, the International Finance Corporation and Turkey’s dedicated co-investment program Istanbul Venture Capital Initiative (iVCi),”as well as from family offices and entrepreneurs around the globe”, the company said.

    Obviously looking closely at businesses in what it describes as “an underfunded and attractive geography”, the fund will focus on providing early stage and early growth support and aims to deliver financial results that exceed emerging market benchmarks at a European level of operational risk. 

    ➤ Earlybird

    Featured Image Credit – Shutterstock