{"id":6394,"date":"2022-10-24T13:03:24","date_gmt":"2022-10-24T13:03:24","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/equifund-the-financial-tool-that-generated-remarkable-results\/"},"modified":"2023-07-26T11:46:21","modified_gmt":"2023-07-26T11:46:21","slug":"equifund-the-financial-tool-that-generated-remarkable-results","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/equifund-the-financial-tool-that-generated-remarkable-results\/","title":{"rendered":"EquiFund: The financial tool that generated remarkable results"},"content":{"rendered":"\n
\"\"\/<\/figure>\n\n

From the early stages of its design, the purpose of the EquiFund<\/strong> initiative was to facilitate access to venture capital financing for Greek companies<\/a> or companies with a strong Greek footprint<\/strong>. Today, EquiFund<\/strong> is presented at pan-European events as an example of best practice.<\/strong><\/p>\n\n

Invested capital<\/strong> of the EquiFund<\/strong><\/h2>\n\n

The results are extremely encouraging: based on the latest anecdotal data up to and including Q1 2022, it appears that 129 companies<\/strong> have been supported by the initiative and have received sowing, start-up or growing funds<\/strong> corresponding to their capital needs depending on the stage reached by each enterprise. It is estimated that these companies employ more than 4,000 people<\/strong> in Greece. The total amount allocated to these enterprises has reached 248 million Euro (EPANEK contribution: \u20ac113.6 million)<\/strong>. At the end of 2020<\/strong>, the capital invested amounted to 170 million Euro (EPANEK participation: 79.6 million) in 115 enterprises.<\/strong> At the end of 2019<\/strong>, the capital invested amounted to 96 million Euro (EPANEK participation: 45.2 million) in 89 enterprises.<\/strong><\/p>\n\n

In the funds invested by the Funds of the EquiFund<\/strong> already exists private participation.<\/strong> To be precise each euro<\/strong> invested from public resources of the ESI Funds (European Structural and Investment Funds) through the initiative It essentially corresponds to 2.7 euros of total investment<\/strong>. These investments<\/strong> in turn, when made, typically attract other private investments<\/strong>. So the final investment for each euro<\/strong> ends up corresponding to about 7.1 euros of final investment<\/strong> to the companies that are made. Horizontally in EPANEK<\/strong> the corresponding leverages are 1 to 2.2 and 1 to 5.7 respectively.<\/strong><\/p>\n\n

In addition to this leverage, there are already examples of companies<\/strong> that after the support of EquiFund<\/strong> succeeded in raising additional funds at a later stage<\/strong>.This was done with the participation of significant foreign investors<\/strong> while increasing their valuation.<\/p>\n\n

The total multiplier benefit,<\/strong> therefore, for the domestic ecosystem and the Greek economy is greater<\/strong> than the immediate measurable results.<\/p>\n\n

Academic and research institutions<\/strong><\/h2>\n\n

It is extremely important that the investment portfolio of the initiative has included in its ranks business ventures of scientists<\/strong> from a variety of Greek academic and research institutions, such as:<\/p>\n\n