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‘EquiFund’ Set to Stimulate Greek Innovation, Entrepreneurship

Greek Prime Minister Alexis Tsipras attended the "EquiFund launching event. Photo: © Greek Travel Pages

Greek Prime Minister Alexis Tsipras attended the “EquiFund launching event. Photo: © Greek Travel Pages

Contributing to the speedy recovery of the Greek economy, a newly set-up entity, EquiFund, aims through funding to spur innovation and entrepreneurship and pave the way for new investments.

A joint initiative of the economy ministry and the European Investment Fund (EIF), the new “fund of funds”, recently presented at a special event at the Onassis Cultural Center, steps in at a time when Greek small and medium-sized businesses (SMEs) need a strong private equity and venture capital ecosystem in which to grow.

The fund will lend support to researchers, undergraduate, postgraduate, and postdoctoral students, existing and new entrepreneurs and to innovative and dynamic businesses seeking ways to implement and finance their business idea.

Greek Prime Minister Alexis Tsipras, EIF CEO Pier Luigi Gilibert, Alternate Economy Minister Alexis Charitsis, academics, representatives from European and Greek companies as well as fund managers from nine EquiFund-backed entities participated in the event.

The EquiFund initiative endeavors to boost the local venture capital market, encouraging in the meantime more entrepreneurs to start up businesses and in turn attracting more private investment to co-fund projects across a startup’s lifecycle.

It should be noted that while SMEs account for two out of three jobs in Europe, Greece has one of the lowest levels of venture capital and private equity in the EU.

“This innovative financial tool is targeted at all sectors and at every stage of the development of a business,” said Charitsis addressing the delegates.

© Greek Travel Pages

© Greek Travel Pages

After the event came to a close, participants had the chance to learn more about funding options available through EquiFund and nine additional private funds.

Meet the Funds

Stage 1 

Big Pi Ventures – focuses on technology transfer by assisting both research-based projects and companies, mostly active in the B2B segment.

Metavallon – an accelerator fund that focuses on pre-seed and seed stage fund companies, targeting technology and intellectual property (IP)-driven startups primarily in ICT and engineering products.

 Velocity.Partners – a pre-seed and seed acceleration fund that focuses on technology companies in verticals where the Greek economy can provide global validation and real market traction.

 Uni.fund – targets pre-seed and seed investments in the broad technology sector, aiming to leverage the hidden potential at Greek universities, R&D and technological space.

Early Stage Window for Startups

 Marathon VC – offers investment, entrepreneurial, technical and operational skills and support towards the creation of world-class technology companies. The fund targets SMEs at the seed and Series A stages.

 VentureFriends 400W – offers value to ICT SMEs in the seed and Series A stages.

Growth Stage Window for Scaleups

 Elikonos 2 – providing financing solutions to companies in sectors that offer the strongest growth opportunities.

 EOS Capital Partners – aims to establish a premier Greek private equity group with a long-term perspective that will support growth companies to achieve a real impact on the economy.

 Synergia Hellenic Fund IV – targets Greek SMEs in sectors that offer great growth opportunities, while also adding value through active, hands-on partnership with investee companies’ management.

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