Firat Ileri Appointed Managing Partner at Hummingbird VC

Hummingbird VC Announces New Managing Partner

Hummingbird VC, a seed investment firm with a portfolio including Deliveroo, Peak Games, MarkaVIP, and Kraken, has appointed a new managing partner. Firat Ileri, formerly a partner, will now lead the team.

Ileri's Background and Experience

Ileri joined Hummingbird in 2012, becoming one of Europe’s youngest venture capitalists at the age of 28. Founding partner Barend Van den Brande will continue in his current role while Ileri assumes management responsibilities.

Originally from Cyprus, Ileri pursued studies in electrical engineering, computer science, and operations research at MIT. During his time at Hummingbird, he spearheaded the firm’s initial investments in both Latin America and Southeast Asia.

Key Investment Successes

Ileri was instrumental in the early funding of Gram Games, guiding their first investment round and subsequently assisting in their acquisition by Zynga for $500 million.

He also oversaw the sale of Peak Games in 2020, a transaction valued at $1.8 billion, which stands as the largest tech exit in Turkey’s history.

Hummingbird VC's Investment Strategy

Established in 2010, Hummingbird VC is currently operating with its fourth fund, totaling $200 million, which was raised in the fourth quarter of 2020. The firm’s investment scope extends from Europe to India, Southeast Asia, Latin America, Turkey, and recently, the U.S.

Ileri recently led Hummingbird’s initial investments in the field of engineering biology, including Billiontoone, a San Francisco-based precision diagnostics company, which secured a $55 million Series B funding round.

Further investments include Kernal Biologics, a company focused on mRNA 2.0 therapeutics for oncology.

Statements from Leadership

Van den Brande commented on the transition, expressing confidence in Ileri’s leadership.

Ileri articulated the firm’s investment philosophy, emphasizing a focus on exceptional founders. “We dedicate significant effort to understanding the unique qualities of these individuals,” he stated. “We actively seek anomalies and believe that the most innovative companies are built by those with unconventional backgrounds.”

Expanding Global Reach

Ileri explained that the team has grown to support this vision. “We’ve evolved from a boutique fund and now aspire to identify founders with independent thinking and ambitious goals.”

To increase the likelihood of discovering these exceptional entrepreneurs, the firm has expanded its global presence.