The government of Greece, with the support of the European Investment Bank (EIB), the European Investment Fund (EIF) and the European Commission, have launched Equifund.
This initiative is also supported by the European Fund for Strategic Investments (the “Juncker Plan”). Strategic partners such as the Onassis Foundation and the National Bank of Greece have also contributed to the funds.
Equifund is a fund-of-funds that provides capital to private sector for the purposes of supporting three different levels of innovation and entrepreneurship:
Innovation: Greek researchers and scientists
Early Stage: Greek start-ups;
Growth: Established Greek companies seeking growth capital
Over € 400 million are available for companies in these three areas. The funds that have been selected for participation in Equifund are:
Innovation Window
BigPi Ventures focuses on technology transfer by assisting both research-based projects and companies, mostly active in the B2B segment. Targeted sectors include: Technology segments such as software, data analytics, machine learning, SaaS but also electronic-based hardware, including robotics, optics, sensors. The Fund can also invest in materials science, energy-related technologies and clean technologies (clean-tech).
Metavallon is an accelerator fund that focuses on pre-seed and seed stage companies in Greece and targets technology and intellectual property (IP)-driven start-ups primarily in information and communications technology (ICT) and engineering products. Targeted sectors include: B2B solutions and products in technology, ICT, high tech in verticals such as robotics, microelectronics, artificial intelligence, data and machine learning, cyber security, energy, transportation and fintech.
Uni.Fund targets pre-seed and seed investments in the broad technology sector, aiming to leverage the hidden potential that exists in the Greek university, R&D and technological space. Targeted sectors include: broad technology sector with focus on ICT, e-business, robotics, maritime, supply chain, Internet of Things (IoT), energy informatics, fintech and insurance technology.
Velocity.Partners Fund is 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. Targeted sectors include: ICT sector-oriented with a horizontal focus on SaaS, IoT, B2B and a sub-vertical focus on tech entrepreneurs wishing to operate in tourism/travel, fintech, logistics, retail, shipping, maritime and e-health and wellness.
Start-ups
Marathon VC brings together a team that combines investment, entrepreneurial, technical and operational skills in order to help the new generation of ambitious founders build world-class technology companies. The fund targets SMEs at the seed and Series A stages. Targeted sectors include: Generalist ICT with a preference for B2B.
VentureFriends 400W brings together a strong and cohesive team able to provide substantial value to ICT SMEs in the seed and Series A stages. Targeted sectors include: Marketplaces and SaaS.
Growth Window Funds
Elikonos 2 aspires to provide financing solutions to companies in sectors that offer the strongest growth opportunities within the context of the Greek economy. Targeted sectors include: All sectors.
EOS Capital Partners aims to establish a premier Greek private equity group with a long-term perspective that will support Greek growth companies to achieve a real impact on the Greek economy. Targeted sectors include: All sectors with a particular focus on food & beverage, tourism, fintech, retail, energy efficiency and pharmaceuticals.
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. Targeted sectors include: All sectors, with a special focus on the food, beverage and agri-business, tourism and hospitality, environment and energy efficiency sectors.
Accessing finance from Equifund requires a clear understanding of fund management and selection processes. Project sponsors will require a clear business plan and financial model, and must be prepared for a due diligence and negotiation process.
To learn more about Equifund, please access their website.
For further information on how we support researchers, start-ups and growth companies, please contact us to request a confidential consultation.