Greece, despite the economic challenges faced in the last decade, is slowly accelerating towards creating an active startup culture. In 2023 alone, startups in Greece secured more than €50 million in capital (most of them being related to emerging tech).
Even now, dozens of venture capital firms are in search of promising Greece-based startups to make investments.
To help you know these firms and understand their investment interests, we have prepared the following list of the top 10 venture capital firms in Greece.
Although the following list contains well-researched data, it is still advised to research your targeted investors and increase your chances of securing funding.
Moving forward with the list now!
VentureFriends was founded by Apostolos Apostolakis and George Dimopoulos. The team at VentureFriends goes beyond typical investors and serves as operators, connectors, and mentors to the startups they invest in.
VentureFriends seeks to invest in tech-enabled B2C and B2B startups that can develop a sustainable moat over time. They prefer startups in sectors such as PropTech, FinTech, Marketplaces, and SaaS.
The investment range of VentureFriends lies between €300,000 to €10M.
Website: VentureFriends | VentureFriends
Founded: 2016
Preferred Industries: Internet, Advertising, and Software.
Total Investments: 82
Exits: 5
Notable Investments: Blueground, Instashop, Workable
TECS Capital is an Investment Fund focusing on early-stage investments in science and technology startups. It was founded in 2020 and the management team consists of individuals with diverse backgrounds and proven track records in the industry.
Similarly, TECS Capital targets startups with Industry 4.0 technologies. They create value by commercializing research and supporting ventures at their inception. The investment range of TECS Capital can go as far as €2.5M, depending on the startup.
Website: TECS Capital
Founded: 2020
Preferred Industries: Software, Blockchain, Cleantech, Medtech, Healthtech, and AI.
Total Investments: 30
Notable Investments: Cyclopt, Cometogeather, Oliveex, Biochip, Aidplex, Uoverse, Agroverse
Uni.Fund is a venture capital firm based in Athens, Greece. It was founded by Katerina Pramatari, Panos Lioulias, Sotiris Papantonopoulos, and Stelios Eliakis.
The firm focuses on early-stage ventures that address emerging market needs and leverage the potential in Greek Universities, R&D, and Tech Space. Uni.Fund also prioritizes people and team development, enhancement of key strengths, and implementation of successful go-to-market strategies.
They also have broad exposure and networking with the start-up ecosystem at an international level. The firm’s investment range is between €200K to €1.5M.
Website: Home - UniFund
Founded: 2017
Preferred Industries: Tech, Space, R&D, Education, and Consumer Products.
Total Investments: 34
Exits: 5
Notable Investments: Cyrus, Convert Group, Bibe Coffee, Clio Muse Tours, College Link, Dtwise
Metavallon VC is also one of the well-known VC firms in Athens. It was founded by Alexandra Choli, George Karantonis, and Yorgos Mousmoulas.
When making investments, this VC firm takes a focused approach and selects startups that can make at least 2-3x of the investment within 24 months. The investors at Metavallon VC also have a requirement to only invest in startups that are being led by experienced startup leaders. Their investment range can extend up to €1.5M.
Founded: 2022
Preferred Industries: Tech, Fitness, Fashion, and Automotive
Total Investments: 35
Exits: 1
Notable Investments: Useberry, Speen, Purposeful, Racecheck, Intelistyle, Aspa, Advantis, Ferryhopper
Marathon Venture Capital was founded by George Varvarelis. The VC firm focuses on early-stage businesses with a strong focus on Europe and MENA-based startups.
Moreover, MVC only invests in innovative businesses that are willing to take risks and offer real-time solutions in the form of products or services. The network also has some of the most experienced mentors to guide startups when things don't go in their favor.
The investment range of Marathon Venture Capital can range up to €500,000.
Website: Marathon Venture Capital
Founded: 2017
Preferred Industries: Software, Machine learning, and Artificial intelligence.
Total Investments: 27
Exits: 1
Notable Investments: Meditrust Health, Shukun Technology, Pobuca
Funding startups since 2021, Velocity Partners is a pre-seed and seed VC firm that invests in Greek-based startups. The network was founded by a group of investors and focuses on sectors such as Maritime-tech, Med-tech, Fintech, and Travel Tech.
The investors at Velocity Partners prefer businesses that have the highest growth potential and the least competition in the market. In short, the firm has a goal to bring access to immediate smart capital and create a global network of like-minded people.
The investment range of Velocity Partners lies around €3M.
Website: Velocity.Partners Venture Capital (velocitypartners.vc)
Founded: 2021
Preferred Industries: Energy, Internet, and Marketing.
Total Investments: 27
Exits: 3
Notable Investments: Pushme, MyJobNow, and Locey
Investing since 2012, PJ Tech Catalyst is a well-reputed VC firm that invests in seed-stage startups in Greece.
Unlike other firms, this one isn't the most active investment network in Greece and only invests in 2 to 3 startups each year because of its rigorous screening tests. Investors are extra careful with their investments to ensure their funded startup can generate the maximum ROI and become a part of unicorn companies.
The investment range of PJ Tech Catalyst is around €4M.
Website: PJ TECH CATALYST - WELCOME
Founded: 2012
Preferred Industries: Broadcasting, Marketing Research, and Digital Media.
Total Investments: 25
Exits: 2
Notable Investments: Pollfish and Radiojar.
Odyssey Ventures L.P. is a venture capital firm based in Maroúli, Evvoia. The firm focuses on early-stage venture and seed investments that can generate decent profits and have low competition.
Every year, Odyssey Ventures L.P. organizes 1-2 pitching competitions and invests in startups that can easily scale on an international level. The investors prefer businesses that are led by individuals who have 3-10 years of experience in their relevant industry.
The investment range of Odyssey Ventures L.P. lies between 1-5M.
Genesis Ventures is a venture capital firm based in Santiago, Chile. The firm focuses on investing in entrepreneurs with global ambition and provides multi-stage venture capital to proven and innovative technology-enabled businesses.
Moreover, Genesis Ventures invests in companies with scalable business models and entrepreneurs wishing to expand their companies globally. They support them with capital, mentoring, and networking through local teams based in Latin America, Europe, and the USA4.
Genesis Ventures invests €1m to €10m in companies that are already generating revenue and have the potential for rapid growth.
Website: Home | Genesis (genesis-ventures.vc)
Founded: 2011
Preferred Industries: Healthcare, Financial Services, and Software.
Total Investments: 16
Notable Investments: Fnloop, huupe, Lerna, Mood, Feel, Arcweave, clicktotherapy
As the first-ever private equity firm in Greece, Alpha Ventures is also looking to invest in Greece-based startups. The network was first founded in 1990 but later on, paused its investment activities (in Europe). In 2023, Alpha Ventures started to invest in EU-based startups again and conducted 1 pitching competition.
They have an investment range of around €1M.
Founded: 1990
Preferred Industries: Tech, Financial Services, Fashion and Software.
Total Investments: 10
Notable Investments: Flatrace, Bagallery, Zayn Capital, Plus972, HER
VC firms can indeed invest huge sums of money into a startup (provided it can easily pass the screening tests). However, some startup leaders find it easier to meet and pitch to an individual investor rather than a network of investors.
In such a case, the best way to find angel investors for your startup is by:
Online platforms like Angelmatch.io feature tons of angel investors from different cities, countries, and even states. Similarly, you can surf the internet and easily find an angel investor who has identical business interests.
Living in the digital age, you can easily find an angel investor from Angel Groups. Even though Greece isn’t a hub for the most popular angel investors, there is still a huge chance for you to find an angel investor who would love to invest in your business.
Individual Angel Investors aren’t associated with Angel Groups but they can also be found through different public events. Most of the individual angels often make their investments through fundraisers, startup accelerators, or networking events, which makes it the best spot to find them.
Since we’re done with the list, I’ll be wrapping up with some important tips to help you with your startup journey.
Not investing enough time in research is a mistake many early-stage startup leaders make. And honestly, any motivated individual who wants his startup funded would do the same.
However, remember that investors on the other hand will always prioritize businesses that have more knowledge about their competitors and understand business strategies. That is why it is recommended to read some examples of a successful pitch deck and avoid regrets later.
A: To make a startup investible, focus on a scalable business model, a strong team, a well-defined market opportunity, and evidence of market validation.
A: Yes, many angel investors provide mentorship programs and financial support. They leverage their experience to offer strategic insights, assist in critical decision-making, and facilitate introductions to their network connections. This mentorship is pivotal for startups, aiding them in overcoming obstacles and expediting their growth trajectory.
A: Venture capital firms are organized setups that aggregate capital from various investors and deploy it into startups at a larger scale, offering expertise and guidance.
In contrast, individual angel investors are private individuals who invest personal funds directly into startups, typically at an early stage, using a more personalized approach and hands-on involvement in the startup's growth.
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