H SPOROS Impact Ventures, an Athens-based alternative investment management company, announced the signing of the Establishment and Management Agreement for the SPOROS Platform AKES. This is the first Circular Economy Fund in Greece, initial capital of EUR 30,5 million, with the investment participation of Hellenic Development Investment Bank S.A. (e.g. TANEO) and 10 other investors from Greece and abroad.

Objective of the fund

Combining flexible financial instruments, specialised consultancy and a holistic ESG/SDG methodology for measuring positive impact, has been recognised internationally as best practice, focusing on high value-added investments for SMEs, investors and the local economy as a whole. Mission of the SPOROS is to support the sustainable development of the the real economy in Greece and the wider region, strengthening the the transition of creative businesses to A circular economy, aiming at:

• the resilience
• innovation
• export orientation, and
• the creation of quality jobs in our country

. SPOROS bases its investment strategy on the needs of productive businesses for more efficient financial tools, combined with technology transfer and specialized training, unlocking the potential for further leverage and competitive international expansion. It focuses on specific sectors with untapped export potential, wide scope for improving the environmental footprint and catalytic importance for the acceleration of cyclicality, emphasizing:

• Net Energy & Value Chains
• Blue Growth & Sustainable Tourism
• Bio-economy & Agri-Food
• Industrial Symbiosis & Industrial Symbiosis Manufacturing
• Chemicals-Plastics & e-waste

Investors for the SPOROS action

Anchor Investor in the SPOROS Platform is the Hellenic Development Bank of Greece (EATE). There are also 10 private investors from Greece and abroad, including:

• systemic banks
• institutional investors
• financial institutions; and
• key stakeholders from the shipping and international impact investing industry

The SPOROS team has already prepared its first investments in the sectors of electronics reuse and sustainable agri-food with green energy production.

During the signing of the investment agreement between EATE and SPOROS, EATE's President Dr. Haris Lambropoulos and the managing director Mrs. Antigoni Liberopoulou, who said:

"It is important that the SPOROS Platform AKEΣ consists of a young and dynamic team that aims to invest in the transition to the circular economy. At the same time, it demonstrates that the design and implementation of our investment programmes consistently addresses the real needs of the venture capital market for the resilient and sustainable development of our country."

From the SPOROS Platform side, the co-founders Mr. Dimitris Simos, Gerasimos Routzounis, Alexandros Karidis-Karandreas, Andrei Geica, as well as the Chairman of the SPOROS Investment Committee Mr. George Kofinakos, who said:

"SPOROS combines durability, value and evolution. The SPOROS team and strategy have been shaped with an eye to the future. Now is the time for a transformation in the way SMEs operate, produce and deliver services. SPOROS - in addition to the required financing - offers the real support that today's businesses need to gain a competitive edge towards a challenging future, accelerating the transition to the Circular Economy with higher returns, lower risk and stronger impact. With the SPOROS Platform we are creating "Circular Success Stories" to root and bring to fruition the unique opportunity of the Recovery Fund and the European Green Deal, with green investments that work for the environment, society and the economy. The participation of EATE multiplies our dynamics and strengthens the "total reset" of Greek business in international developments. We will unlock and strengthen this dynamic together, by changing the production model, corporate culture and generation, capitalizing on the historical momentum".