EquiFund II: Its initial agreement was signed to support Greek startups and SMEs

Signed by the vice president of the EIB European Investment Fund, Ioannis Tsakiris, the Deputy Minister of National Economy & Finance, Nikos Papathanasis and the managing director of the EIB, Marjut Falkstedt the agreement for the new financing tool EquiFund II implemented through the Program “Competitiveness 2021-2027“.

Through EquiFund II, with an initial budget of 200 million euros, the following will be supported:

a) business ventures (biotechnology, pharmaceutical, medical device companies, etc.)

b) groups that aim to create measurable social benefit (including solutions to social and/or environmental problems) for specific social groups or society as a whole, while generating economic benefit for investors

Aimed at very small, small, medium enterprises and mid-caps (all stages of business development) and Technology Transfer projects in thematic units further specialized on the Life and Health Sectors and Sustainable Development and social innovation/entrepreneurship, which are considered to have promising growth prospects but relatively few funding options.

Especially the Fund aims to improve the market conditions for investments in companies by providing venture capital (Venture Capital and Private Equity Funds), in collaboration with co-investment from selected Intermediary Financial Organizations and private investors.

EQUIFUND II is an act of strategic importance for the Competitiveness Program and is co-financed by the European Regional Development Fund (ERDF) of the European Union.

It will target investments in all asset classes, ranging from pre-seed, seed and early-stage investments to growth investments. As a result, it will support the entire investment spectrum of the venture capital and private equity ecosystem, depending on market needs.