European VC With 20-Fold Return Raises $250 Million Fund (1)

A venture capital firm with notable hits in eastern Europe and Turkey has rebranded as Bek Ventures and raised a $250 million fund to invest in the region.

The investing team at the firm cut early checks into Peak, a Turkish gaming startup that soldto Zynga Inc. for $1.8 billion, and UiPath Inc., a Romanian software company that listed in New York in 2021.

With its new vehicle, Bek Ventures, formerly known as Earlybird Digital East, plans to remain focused on early-stage businesses in markets often overlooked by technology investors. The firm’s managers said they turned down ...