The importance of creating a new private equity fund, called EOS Hellenic Renaissance Fund II (“EOS Fund II”), is emphasized by the deputy Minister of National Economy and Finance, Nikos Papathanasis.
The main investor is Hellenic Development Bank Investments SAwith resources of Recovery and Resilience Fund, within the scope of the National Plan “Greece 2.0”, through the “Q-Equity” program. Institutional and private investors also participate, including Greek and foreign banks.
The EOS II Fund is aimed at Greek companies small and medium-sized companieswith high growth potential, an annual turnover of up to 100 million euros and a workforce of up to 500 employees. It is expected to further strengthen entrepreneurship in strategically important and outward-facing sectors of the Greek economy.
The initial investment funds of the EOS II Fund amount to 219 million euros (first closing) and are expected to reach 250 million euros.
The Fund will build on the success of the EOS I Fund, whose investments, from 2018 to date, have created approximately 1,500 new jobs.
The Vice Minister of Economy and National Finance, Nikos Papathanasis, said: “We welcome the creation of the EOS II Fund, the largest growth fund in the EATE portfolio, established through the “Q-Equity” program of the Recovery and Resilience Fund equity platform, under the “Greece 2.0″ Plan National”. This action, in continuation of EATE’s actions to strengthen the Greek entrepreneurship ecosystem in the start-up phase, with a total capital of 2.1 billion euros, creates a guarantee for more successful investments for the benefit mainly of Greek SMEs, in strategic and outward-facing sectors of the economy ».
The president of the Hellenic Investment Bank for Development, Haris Lambropoulosand the general director of EATE, Antigone Lymberopoulouin their statement, highlighted: “EATE is the Equity Platform of TAA – National Plan “Greece 2.0”. The signing today of the contract for the EOS II Fund – with TAA resources through the “Q-Equity” program – makes us particularly happy, as it is the 27th and largest fund in our portfolio. The national venture capital market is not only growing in size, but also constantly improving its quality characteristics, as it now aligns its forces to cover the entire spectrum of ecosystem needs.
As our homeland now has the right opportunities and entrepreneurial talent, on our part we are keen to support the national effort in the best possible way and to place the Greek ecosystem on the “radar” of investment interest”.