Greece's startup ecosystem is experiencing significant growth and garnering attention from both local and international investors. Entrepreneurs in Greece have access to various funding sources, including venture capital firms, angel investors, and crowdfunding platforms. Furthermore, Greece boasts a vibrant community of entrepreneurs, incubators, accelerators, and other key players contributing to a supportive environment for startups. The past three years have witnessed noteworthy achievements, with Greece recording a surge in startup exits, including the emergence of the country's first unicorn, Viva Wallet. These successes exemplify the potential and opportunities available within the Greek startup scene, making it an exciting and promising landscape for aspiring entrepreneurs. In this article, we have compiled a comprehensive list of top VC Funds and Angel Investors in Greece that can provide you with the capital and support to help you succeed!
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Why Should You Raise Funds in Greece?
Startups should consider raising funds in Greece for the following reasons:
1. Supportive Government Policies:
The Greek government has implemented several policies, initiatives, and programs to create a more favorable environment for startups to grow and succeed. This includes various grants and funding programs that aim to provide financial assistance and support to innovative startups. For example, the Hellenic Development Bank launched the "EquiFund" initiative, a EUR 260 million fund aimed at supporting Greek startups. These government grants and funding programs offer startups additional financial resources to fuel their growth and development. There is also Elevate Greece, the official database platform established by the Greek government whereby Greek startups can register and receive various benefits. These efforts demonstrate the government's focus on creating a strong and sustainable startup ecosystem in the country.
2. Supportive Startup Ecosystem:
Greece has been actively working towards developing a thriving startup ecosystem, with a supportive community of entrepreneurs and public and private initiatives that offer startups guidance, resources, and networking opportunities. There are numerous startup incubators and accelerators in Greece that offer structured programs that connect startups with experienced mentors, industry experts, and potential investors. There are also initiatives by universities such as The Innovation and Entrepreneurship Unit (IEU) at the National Technical University of Athens (NTUA), which promotes technology transfer and entrepreneurship by connecting startups with research and academic institutions. This growing startup ecosystem provides startups with a supportive environment and access to resources, making it an attractive option for raising funds.
3. Skilled Workforce:
Greece possesses a highly skilled workforce, which is its biggest strength. Greece's talent pool is comprised of highly educated individuals in the fields of science, technology, engineering and mathematics. According to data by Enterprise Greece in 2023, 47.1% of the total labour force has a higher education degree, while 7.5% has a master's degree and/or a doctorate. This pool of talent provides startups with access to a knowledgeable workforce that can contribute to their growth and development. Skilled professionals can bring innovative ideas, technical expertise, and research capabilities to startups, helping them to stay competitive in the market. Greek's specialized and trained workforce is capable of effectively supporting any investment project, and this talent pool has provided a strong foundation for developing innovative startups in various industries.
Venture Capitalist Funds in Greece
The venture capital firms below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2012
Stage: Pre Seed, Seed
Focus: Fintech, Healthcare, Future of Work, Future of Food, Ecomtech
Notable Portfolio: Payhawk, Quantive, Dronamics, NitroPack
Eleven Ventures is an early-stage venture capital firm that focuses on investing in technology companies in Southeast Europe. With a mission to empower local heroes and propel startups beyond regional boundaries into global markets, Eleven Ventures has been actively supporting founders in four key industries: fintech, human resources tech, e-commerce, and energy and sustainability tech. They have been investing in startups since 2012 and have made 150 collective investments over the course of 10 years. In addition to their investments, Eleven Ventures also offers partnerships and programs, including the Visa Innovation Program, to further support the growth and development of fintech startups
Year of Inception: 2017
Stage: Pre Seed, Seed
Focus: Sector Agnostic
Notable Portfolio: Hosthub, Fighthoax, Intelligencia.ai, Pushme, Instacar
Velocity Partners is an early stage venture capital firm that focuses on technology companies in various verticals. With a mission to fuel Greek entrepreneurs around the globe, Velocity Partners aims to support and build world-class technology companies. With their expertise and financial backing, Velocity Partners plays a crucial role in empowering innovative startups and driving the growth of the tech industry.
Year of Inception: 2013
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Mood, Woli, WeAreTravelers, Wealthyhood, myTeam
Genesis Ventures is a prominent venture capital fund operating in Greece and South-East Europe. With a strong focus on early-stage startups, the firm provides capital and hands-on support to founders at the beginning of their entrepreneurial journey. Their mission is to become the go-to fund for Greek startups, offering both financial investment and valuable guidance.
Year of Inception: 2018
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Useberry, Better Origin, Ferryhopper, Perpetual Robotics
Metavallon VC is a venture capital investment firm that specialize in funding pre-seed and seed-stage technology innovation companies. With a total fund size of EUR 32 million, they provide initial funding of up to EUR1.5 million and hands-on support to their investments. Their focus is on supporting startups that are already in the market, helping them scale and achieve their growth potential. As an early-stage investor, Metavallon VC plays a crucial role in nurturing and developing innovative ideas, helping entrepreneurs turn their visions into successful businesses.
Year of Inception: 2017
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Allcancode, Dtwise, FlexCar, Novoville, Nimbata
With a focus on supporting ventures that address emerging market needs, UniFund plays a vital role in nurturing innovative startups and driving economic growth. As a Greek VC and technology transfer fund, UniFund invests in various sectors, including materials, resources, information technology, healthcare, and more. With its expertise and experience in financial and investment management, UniFund has established itself as a leading player in the European venture capital landscape.
Year of Inception: 2017
Stage: Seed
Focus: Technology
Notable Portfolio: Causaly, Lenses, NetData, Centaur, Norbloc
Marathon Venture Capital is a seed-stage fund that has recently launched in Greece with a mission to foster innovation within the Greek network of entrepreneurs and technologists. With an active management of EUR 32 million, Marathon Venture Capital aims to lead seed rounds with contributions ranging from EUR 500,000 to EUR 1 million. The firm offers comprehensive support in areas such as compliance, talent acquisition, strategy development, and fundraising, with the goal of helping ambitious Greek founders build successful businesses.
Year of Inception: 2016
Stage: Seed, Series A
Focus: PropTech, FinTech, Marketplaces, SaaS
Notable Portfolio: FlexCar, Huspy, Belvo, Byrd, Carmoola, Norbloc
VentureFriends is a prominent venture capital firm that specializes in seed-stage and early-stage investments in tech-enabled companies. As an investor, VentureFriends provides not only capital but also valuable technical and managerial expertise to startup firms with long-term growth potential. By leveraging their extensive network and industry experience, VentureFriends helps startups navigate the challenges of scaling their businesses and achieving sustainable growth.
Year of Inception: 2020
Stage: Seed, Series A, Series B, Series C
Focus: Science and Technology
Notable Portfolio: Cyclopt, ComeTogether, Aidplex, Bio2Chip
TECS Capital is a venture capital firm focused on emerging Industry 4.0 venture prospects and producing value via research commercialization. TECS Capital invests in science and new technology enterprises at the cutting edge of transformational growth. They seek to engage with founders with expertise in their field and ensure that they can respond collaboratively and quickly to technological challenges, opportunities, and changing market situations.
Year of Inception: 2017
Stage: Seed, Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Prosperty, Altered, Saphetor, Orfium
Big Pi Ventures is a prominent venture capital fund that focuses on investing in world-class technology entrepreneurs who are working on proprietary technologies to address significant challenges. With a mission to enable Greek-based teams to become global leaders, Big Pi Ventures has made strategic investments in various companies across different sectors. With a dedicated team and a strategic approach, Big Pi Ventures provides the necessary resources and support to help startups thrive and achieve their full potential.
Year of Inception: 2012
Stage: Seed, Series A, Series B, Series C
Focus: Technology
Notable Portfolio: Intale, Qrator, Novoville, Fieldscale, Orama
With a focus on Information and Communication Technology (ICT) businesses, PJ Tech Catalyst aims to support the development of entrepreneurship and innovation. With a strong passion for accelerating the best opportunities, they encourage entrepreneurs to entrust them with their ideas, promising to see them evolve beyond expectations. PJ Tech Catalyst Fund provides crucial financial backing and strategic guidance to promising startups, helping them navigate the challenges of early-stage growth.
Year of Inception: 2008
Stage: Seed, Series A, Series B, Series C
Focus: Technology
Notable Portfolio: -
Thermi Ventures is a venture capital investment firm that focuses on providing startup and expansion capital investments to innovative small and medium-sized Greek companies during their early or expansion stages. With a strong emphasis on supporting Greek businesses, Thermi Ventures aims to fuel growth and foster success in the local entrepreneurial ecosystem. The firm's active portfolio consists of a diverse range of companies, and they have a track record of successful exits. Their investment team is experienced and knowledgeable, with a deep understanding of the Greek market and a passion for driving innovation.
Angel Investors in Greece
Angel investors may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Pre Seed, Seed
Focus: Sector Agnostic
Notable Portfolio: -
The Hellenic Business Angels Network (HeBAN) is a national, non-profit organization in Greece that aims to bridge the gap in the country's entrepreneurial ecosystem. With a focus on connecting Greek business angels with angel investors, HeBAN enables its members to share investment opportunities and best practices, provides funding and expertise to innovative startups, creates investment syndicates, and expands the reach and impact of early-stage startups. HeBAN also serves as a link to the international early-stage investor community through its association with EBAN and GBAN. Through events like the Hellenic International Business Angels Summit, HeBAN provides a platform for Greek startups to pitch their ideas to a global audience of over 100 business angels, fostering connections and growth opportunities for the entrepreneurial ecosystem in Greece.
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: -
THETI CLUB, also known as The Hellenic Tech Investor Club, is the first angel group in Greece that focuses exclusively on high-tech startups. The club's main objective is to support technology startups by providing early-stage funding, know-how, networking, and development opportunities. THETI CLUB is interested in startups that have deep, disruptive technologies and are addressing large international markets. They connect startups with experienced investors who have an entrepreneurial background and are willing to share their knowledge and network. Startups can apply for funding and go through a process that includes phone calls, interviews, and pitching to investors.
Closing Thoughts on VCs and Angel Investors in Greece
Greece's supportive startup ecosystem, fueled by government initiatives, funding opportunities, mentorship programs, and access to resources, has created a fertile ground for innovation, collaboration, and entrepreneurship. This has made Greece become much more attractive as a foreign investment destination in recent years, attracting investors looking for new prospects and potential future success stories both within and outside of the country.
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