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Marathon Venture Capital increases its available capital to 70 million euros

Responding to the rapidly growing market of innovative technology companies and the growing investment interest from institutional and private investors, Marathon Venture Capital announces the completion of a new capital increase, with the amount of the Marathon Fund II now amounting to over 70 million euros, overcapacity EUR 50 million.

As a relevant announcement points out, Marathon Venture Capital is on a mission to support ambitious Greek founders in the creation of world-class technology companies. The companies in its portfolio are trying to meet some of humanity’s greatest challenges.

For example, they are tackling climate change by automating precision farming, accelerating research and development of new therapies, and training organizations to stay safe from cyber-attacks. At the same time, they create perhaps the best software products in their field in the world, have clients in dozens of Fortune 500 companies, and attract funds from the world’s leading investors, from Israel to Silicon Valley.

About a year ago, Marathon announced the launch of Marathon Fund II, with an initial capital of € 40 million. Since then, the first acquisition of a company in its portfolio has taken place, five of its companies have raised significant funds from leading international investors, while investments in new startups have also been announced at a faster pace than ever before.

At the same time, the market of startups with Greek founders is growing rapidly in every direction, increasing by 2021 by 2.4 times, while startups in Greece provide attractive fees, further accelerating a virtuous growth cycle.

Today, Marathon announces the completion of a new capital increase, with the amount of Marathon Fund II now amounting to 70 million euros. More than doubling the size of its first fund of 32 million euros and exceeding the initial target of 50 million euros for its second fund, this increase certifies the rapid maturation and the great prospects of the market.

Participants in the new capital increase include existing investors, such as the Hellenic Development Investment Bank (EATE), as well as a significant number of young people. These include institutional investors, such as the EBRD, and an ever-increasing number of corporate and private investors from around the world. The participation of more and more successful founders, who are now returning as investors in the next generation of startups, needs special mention.

Marathon’s investment strategy remains the same. The fund leads in seed rounds, investing typical amounts of 1-1.5 million euros for a 15-20% participation in each company, on transparent terms. In subsequent rounds of financing, Marathon continues to invest significant significant amounts, maintaining its stake in the company.

Marathon aspires to be the trusted partner of a founder, not just a shareholder. From attracting talent to product and sales development, as well as finding investors and partners, Marathon’s involvement also means extensive support in everything related to the creation of a fast-growing technology company. Those interested can get more information on the website marathon.vc

“For fifteen years, a deep conviction has been leading us, that the Greeks can create a truly successful technology company. What started as an underground trend today comes to the fore and Greek startups are now an attractive destination for significant capital and – above all – the most ambitious The talent that we discover every day and dedicate his career to innovative technology companies is a guarantee that the events that see the light of day are the tip of the iceberg and are just the beginning. “It continues to be the same – to support Greek founders to go even further,” said Marathon’s partner Georgios Tziralis.

Marathon partner Panos Papadopoulos added: “Today is a milestone day for the Greek technology ecosystem, as Marathon becomes the largest fund exclusively targeting Greek tech companies. We are proud that among our supporters there are many successful founders of technology companies. from Greece and abroad, while support from young institutions such as the EBRD proves that investing in Greek innovative companies is now an important asset class. next. ”

“We are excited to work with Marathon on its mission to support Greek founders to build the next generation of technology companies. The European Bank for Reconstruction and Development (EBRD) participation in Marathon Fund II is the first in Greek venture capital fund and will contribute in the ongoing development of Marathon both as an investor and as an ambassador of the Greek startup ecosystem “, said Michael Parry, Associate Director, EBRD.

“We are particularly pleased to see the potential of dynamic Greek investment schemes to attract international capital from private and institutional investors. This development is a clear demonstration of investor confidence in Marathon’s team and strategy, but also in overall development “EATE is now actively participating in this effort, in order to increase its investment scope, having a leading role in the ecosystem and contributing to the overall development result for the country,” added Antigoni Lymperopoulou, CEO, EATE.

Source: Capital

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