VentureFriends closes €20M fund to invest in Greek software startups

A very small bit a lot more VC money sloshing all over Europe. This time it’s the turn of Greece-based VC fund VentureFriends, which is asserting the final closing of a €20 million fund to devote in Greek software program and “high tech” startups at the seed phase. The two Partners of the fund are Apostolos Apostolakis and George Dimopoulos, with Stefanos Katsimpas also performing as a senior Associate.

Around fifty percent the money was raised previous yr and I’m told VentureFriends has already finished about 20 investments, but is keen to get the phrase out that Greek entrepreneurs have yet another trader to tactic. Apparently, in contrast to a large amount of regional European VCs, the firm’s forty or so LPs are all non-public. In other words and phrases, if I recognize correctly, there is no tax-payer money being gambled in this article.

Specifically, Apostolakis suggests the fund will be investing amounts concerning €250-500,000 and can abide by on up to a total of one million. It is targeting startups with powerful groups and producing a minor revenue, with e-commerce/e-marketplaces, SaaS, AdTech, and on-demand from customers companies remaining a emphasis.

“We want to see community results or higher technological know-how,” he tells me. “We appear for innovating hustlers resolving massive and essential want-to-solve problems”.

In situation you aren’t familiar with Apostolakis’ function, he formerly co-established, the very first e-tailer in Greece, and in 2011 he co-established e-meals, a meals shipping marketplace obtained in 2015 by Shipping and delivery Hero, giving a main exit for the Greek startup ecosystem.

He’s also an energetic angel trader, together with recently investing in Doctoranytime, the physician booking app launched in Belgium by ex-Get Eat Uncomplicated staff customers.

Notably, he and Dimopoulo were being also among the the very first angel buyers in Taxibeat, the taxi app that marketed to Daimler in February.







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