Bek Ventures (formerly Earlybird Digital East Fund) has been recognized as the top-performing venture capital firm globally in the 2023 HEC Paris-Dow Jones Venture Capital Performance Ranking. This marks the first time a European VC has claimed the number one position in this prestigious annual study.
The ranking, conducted by Professor Oliver Gottschalg at HEC Paris, evaluates venture capital firms based on comprehensive performance data from firms that raised over $100 million between 2010 and 2019. Our performance score of 5.64 placed us ahead of a competitive field that included established players from Germany, United Kingdom, and the United States.
The 2023 HEC Paris-Dow Jones Venture Capital Performance Ranking
|
Rank |
Firm |
Performance Score |
Headquarters |
|
1 |
Bek Ventures (formerly Earlybird Digital East Fund) |
5.64 |
Luxemburg |
|
2 |
Blackbird |
2.11 |
Australia |
|
3 |
MindWorks Capital |
2.04 |
Hong Kong |
|
4 |
BlueYard |
2.00 |
Germany |
|
5 |
Medicxi Ventures |
1.59 |
United Kingdom |
|
6 |
BA Capital |
1.33 |
China |
|
7 |
Co-Win Ventures |
1.30 |
China |
|
8 |
Visionary Venture Fund |
1.27 |
United States |
|
9 |
Heartcore Capital |
1.10 |
Denmark |
|
10 |
Northzone |
1.08 |
United Kingdom |
For more than a decade, we have maintained an unwavering belief: discipline is the key to success in venture capital. While others have chased trends and deployed capital at unprecedented speed, we have remained committed to our principles—backing a select number of exceptional founders with the deep attention and support they deserve.
This recognition validates our contrarian approach: smaller funds, fewer investments, and significantly more time with each founder in our portfolio. We write second checks for more than 90% of our portfolio companies, a testament to our commitment to the founders we choose to back.
Our investment in UiPath exemplifies this strategy. When we led their $1.6 million seed round in 2015, that conviction was rewarded when UiPath achieved the largest IPO for a Europe-born technology company—but UiPath reflects our systematic approach to identifying and supporting exceptional founders with roots in Dynamic Europe who think globally from day one.
This ranking doesn't change our approach. We will continue to prove that the most sustainable success in venture capital comes not from following the hype, but from staying true to fundamental principles.
Read the full study: European VC takes the lead in 2023 HEC Paris-Dow Jones Venture Capital Performance Ranking