The investments of the venture capital funds participating in Equifund exceeded 200 million euros, during the approximately five years of the program’s life.
According to the data presented by George Giakoumakis, Project Manager of the European Investment Fund (EIF), at the Hellenic Innovation Forum conference until October, 119 startups were funded by these funds with a total amount of 211 million euros. Equifund mobilized other investors who participated in financing rounds, with the total amount of investments reaching 483 million euros.
It is noted that each investment ranges from a few thousand to millions of euros, depending on the size and needs of each startup company. Based on how Equifund is designed, four funds (BigPi, Metavallon, Uni.fund and Velocity Partners) that participate in it, operate in the so-called “innovation window”, financing with smaller amounts (approximately 50-500,000 euros) start-ups.
Two funds (Marathon and Venture Friends) operate in the so-called “initial stage” by financing startups that have started their commercial operation, and finally, three funds (Elikonos 2, EOS and Synergia) finance, as a rule, companies that are in the development phase with Of course, funds that invest smaller amounts make more investments, while those who invest millions at a time, make more measured and therefore fewer investment moves.
The next generation of investment funds
As Equifund comes to an end (investments in new companies can be made until 2023) the companies participating in the program are planning new generation investment funds, while at the same time the Ministry of Development and Investment plans to increase investments in startups with financial instruments exceeding 200 million euros, drawing resources from the NSRF 2021-2027 but also directly from the EU.
Already, the management teams that “run” Equifund funds such as Uni.Fund, Marathon, Metavallon and Venture Friends, are setting up new investment schemes with the participation of the European Investment Fund (EIF) and private investors.
The “Accelerate TT” program of the Hellenic Development Investment Bank (formerly TANEO), amounting to 60 million euros, is also in the pipeline, for the financing of business participant funds that will invest in startups with seed capital.
It is noted that the investment platform EquiFund is financed with 200 million euros by EPANEK (European Regional Development Fund and national resources), with 60 million euros by the European Investment Fund (EIF), with 40 million euros by European Investment Bank – resources of the European Strategic Investment Fund (EFSA – Juncker Plan). By leveraging additional funds from institutional and private investors, the initiative has reached € 450 million in available resources.
-Financing tools of 200 million euros for new venture capital funds are coming
Source From: Capital