Dan Lupu

Dan Lupu is a Romania-born investor who has focused on Central and Eastern Europe (CEE) since around 2007. He trained in computer science ("nine years of study," from high school through university) and began his career in finance, working in equity research and private equity before moving into venture capital as a Director at Intel Capital, Intel's investment arm. That combination of a technical foundation and a finance/investing track shaped his self-described identity as "a product guy" who digs into feature sets, buying decisions, and operating environments.

In 2012 he joined Earlybird as a Partner to co-found and lead the Earlybird Digital East Fund (DEF I and II), the firm's dedicated vehicle for the CEE region. Over roughly a decade he led the Digital East team's investments in companies including UiPath, Minit, Photoneo/Brightpick, DCSplus, FintechOS, and Flipps/FITE. He is best known for backing UiPath, the Romanian robotic-process-automation company whose 2021 IPO — valuing it around $29 billion at listing — was the largest on record for a European startup at the time.

In 2024, Earlybird restructured and the Digital East team spun out to form an independent firm (later rebranded Bek Ventures in late 2024). Lupu remained with Earlybird, transitioning to a Venture Partner role and continuing to lead the firm's activity in Central and Eastern Europe while building out a local CEE-based team within the broader pan-European platform. He is now based in Madrid and, at 53, ranked #21 on Forbes' 2025 Midas List Europe of top tech investors.

• Region-first: Concentrates on CEE, Turkey, and the CEE diaspora — regions he views as rich in technical talent but underserved by Western capital.
• Stage: Early-stage across seed, Series A, and Series B; recent activity skews toward first-cheque seed rounds.
• Sectors: Generalist with a strong tilt toward B2B/enterprise software, cloud and software infrastructure, fintech, and deep tech/hardware (robotics, computer vision, AI).
• Founder profile — authenticity over polish: "I personally prefer the authenticity of unpolished Eastern European founders." He looks for grit and commitment, believing "the grit and commitment of entrepreneurs are the key to creating large companies."
• Market validation over ideas: "There is no idea which can triumph over the validation of the market." He validates by speaking directly with a startup's clients and partners.
• Product-led diligence: "I am a product guy and focus a lot on understanding the feature set, the operating environment, the buying decision."