PitchBook’s 2025 Annual Manager Performance Score League Tables benchmark private capital managers across 29 strategic and geographic categories by historical performance. In this year’s edition, Bek Ventures was ranked the top-performing venture capital firm in Europe, and third globally.
It's worth pausing on where much of that performance was built. For more than a decade, we've backed a select number of founders with roots in Central and Eastern Europe — the region we call Dynamic Europe, who build with global ambition from day one. That combination of regional roots and global reach, paired with the discipline to write fewer, higher-conviction checks, is the thesis this recognition reflects.
Read the full study: Manager Performance Score League Tables: 2025 Annual
What the ranking measures
The League Tables benchmark fund managers against peers of similar strategy and vintage, rather than relying on headline IRRs alone. It's a standardized way for founders and LPs to tell consistent performance apart from a single lucky fund. Rather than ranking on raw IRR, PitchBook measures each fund's excess return against its peer group's median and rolls that up into a single 0–100 score, where 50 is neutral - so a high score reflects consistent outperformance across a manager's fund family, not one standout deal.
Manager Performance Score League Tables: 2025 Annual - Venture Capital
Europe · Venture Capital
|
Rank |
Investor |
Score |
|
1 |
Bek Ventures |
88.1 |
|
2 |
Red Dot Capital Partners |
86.1 |
|
3 |
4BIO Capital |
82.6 |
|
4 |
FORWARD.one |
78.8 |
|
5 |
YL Ventures |
76.7 |
|
6 |
BioGeneration Ventures |
72.3 |
|
7 |
Newion |
71.7 |
|
8 |
Index Ventures |
70.0 |
|
9 |
Lifeline Ventures |
69.2 |
|
10 |
Marathon VC Fund |
67.9 |
Global · Venture Capital
|
Rank |
Investor |
Score |
|
1 |
DBL Partners |
95.4 |
|
2 |
Kingfisher Investment Advisors |
88.6 |
|
3 |
Bek Ventures |
88.1 |
|
4 |
Anthos Capital |
86.4 |
|
5 |
Red Dot Capital Partners |
86.1 |
|
6 |
4BIO Ventures |
82.6 |
|
7 |
True Ventures Select |
81.4 |
|
8 |
Union Square Ventures |
79.8 |
|
9 |
FORWARD.one Fund |
79.8 |
|
10 |
Union Square Ventures Opportunity |
79.8 |
We stay focused on the long-term craft of this work rather than the headlines. This is simply another data point that the approach — a select few companies, disciplined fund sizes, and spending the time with our founders — holds up against scrutiny, not just intuition.
“The VC industry has become rife with loud posting, provocative controversy, AI slop, posturing, and bravado. Activity and logo collection seem to be rewarded more than performance. Against this backdrop, we continue to practice our craft with patience, diligence, and dedication.”
Cem Sertoglu - Managing Partner at Bek Ventures