Increase in funding through EAT, in TES

This is provided for in a joint decision by Deputy Minister of Finance Theodoros Skylakakis, Minister of Development and Investment‘Adonis Georgiadis and the Deputy Minister Yiannis Tsakiris.

With the addition of the above amount, which comes from the Public Investment Program, public funds allocated to the Fund now amount to €350 million, while with the participation of private funds, the amount exceeds €500 million, and the total «exposure» of EAT in EquiFund, now stands at €65 million, compared to €15 million, which was its initial participation (as ETEAN).

It should be noted that the initial funding for the EquiFund investment platform comes from Operational Program Competitiveness Entrepreneurship (EPAnEK) with €200 million, €60 million from the European Investment Fund (EIF) which is also the fund's administrator, and €40 million from the European Investment Bank – resources from the European Fund for Strategic Investments (EFSI – Junker Plan). By leveraging additional funds from participating institutional and private investors, EquiFund has reached €450 million in available resources. Now, €50 million from the EIB is being added to this.

According to reports, the additional funding will be directed to the Growth Window, which concerns the strengthening of existing businesses that are already in the development stage and need further funding to expand their activities.

It should be noted that this «window» attracts the greatest investment interest, which is why the additional funding was decided upon.

The sub-funds participating in this window are three in number (namely Elikonos 2, EOS, and Synergia).,

In addition to the above, EquiFund also includes the Innovation Window, which supports business ideas that are in the technology transfer or business acceleration, which show growth potential and business opportunities, and the Early Stage window, which supports startups in their early stages with high growth prospects.

The Innovation window includes the sub-funds BigPi, Metavallon, Uni.fund, and Velocity Partners, while the Early Stage window includes the sub-funds Marathon and Venture Friends.

According to the data, to date, a total of €112 million has been invested through EquiFund and 98 companies have been financed, 94 of which are start-ups.