VentureFriends closes €20M account to deposit in Greek program startups

A small bit some-more VC income sloshing around Europe. This time it’s a spin of Greece-based VC account VentureFriends, that is announcing a final shutting of a €20 million account to deposit in Greek program and “high tech” startups during a seed stage. The dual Partners of a account are Apostolos Apostolakis and George Dimopoulos, with Stefanos Katsimpas also behaving as a comparison Associate.

Over half a income was lifted final year and I’m told VentureFriends has already finished about 20 investments, though is penetrating to get a word out that Greek entrepreneurs have another financier to approach. Interestingly, distinct a lot of internal European VCs, a firm’s 40 or so LPs are all private. In other words, if we know correctly, there is no tax-payer income being gambled here.

Specifically, Apostolakis says a account will be investing amounts between €250-500,000 and can follow on adult to a sum of 1 million. It is targeting startups with clever teams and generating a small revenue, with e-commerce/e-marketplaces, SaaS, AdTech, and on-demand services remaining a focus.

“We wish to see network effects or high technology,” he tells me. “We demeanour for innovating hustlers elucidate large and critical need-to-solve problems”.

In box we aren’t informed with Apostolakis’ work, he formerly co-founded, a initial e-tailer in Greece, and in 2011 he co-founded e-food, a food smoothness marketplace acquired in 2015 by Delivery Hero, providing a vital exit for a Greek startup ecosystem.

He’s also an active angel investor, including recently investing in Doctoranytime, a alloy engagement app launched in Belgium by ex-Take Eat Easy group members.

Notably, he and Dimopoulo were also among a initial angel investors in Taxibeat, a cab app that sole to Daimler in February.

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Posted by on May 8 2017. Filed under Europe. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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