Mubadala – EATE agreement to expand existing co-investment cooperation

The expansion of the existing co-investment cooperation of € 400 million, so that it includes investments in Greek venture capital (“VC”) and private equity (“PE”) high-yield funds, which focus on investments in fast-growing signed during the official visit of the Greek Prime Minister, Kyriakos Mitsotakis to the United Arab Emirates, the Mubadala Investment Company (“Mubadala”), the state investment arm based in Abu Dhabi, and the Hellenic Development Investment Bank (” ), the state fund of funds of Greece.

The Mubadala-EATE cooperation started in 2018 with an initial focus on minority direct investments in Greek companies.

In addition, Mubadala and EATE completed their first co-investment under the terms of the newly expanded VentureFriends Fund III, an Athens-based fund that invests in the early stages of technology operations.

Waleed Al Mokarrab Al Muhairi, Deputy CEO of the Mubadala Group, said: “Over the years, the Greek economy has not only demonstrated resilience, but has shown very interesting growth opportunities. Our expanded cooperation with EATE will enable Mubadala to accelerate its investments in Greece, capitalizing on the increasingly active landscape of innovation and entrepreneurship in many sectors. to take advantage of the developing industries of Greece based on technology ”.

Dr. Harris Lambropoulos, President of EATE, said: “Our cooperation with Mubadala is based on mutual trust and understanding. The expansion of our co-investment strategy is the beginning of a new era, in full alignment with the investment principles and values ​​of our organizations. It also provides a unique opportunity to further promote our bilateral relations, taking advantage of the dynamism of the Greek economy and its resilience to global challenges and uncertainties. ”

Ms. Antigoni Lymperopoulou, CEO of EATE, added: “Our co-investment approach has yielded consistent results by promoting the Greek investment ecosystem, which focuses on talent and innovative entrepreneurship.”

VentureFriends Investment Focus focuses on B2C and B2B start-ups that can grow rapidly and develop a sustainable embankment over time, and already has a track record of successful investment in PropTech (real estate technologies) , Fintech (technologies for finance), Marketplaces and SaaS (software as a service). VentureFriends aims to invest in Greece, in Europe and selectively outside Europe, including the UAE, where it has been one of the first investors in Instashop since 2016 and most recently one of the first investors in Huspy.

Mr. George Dimopoulos, Founder of VentureFriends said: “We are excited to welcome Mubadala and EATE as investors (LPs) in VentureFriends III. and companies that will become leaders in their respective fields, including Blueground (Proptech), Belvo (Fintech) and Instashop (B2C) ”.

Through co-investment cooperation, over the last four years, Mubadala and EATE have jointly considered a number of investment opportunities, with further opportunities for direct investment and investment in funds already under consideration.