Marathon Venture CapitalAthens is a “Greek Tech Partners’ proud of being a partner, according to partner Panos Papadoploos, just shut down its new funds with $ 75 million on capital commitments.
The vehicle brings $ 5 million under the farm’s total assets-eight years old, meaningful amounts for seed-wearing investors, and also a reflection of some large-scale departure. Among these were the Marathon’s portfolio company CNH last year, one of the farm equipment and construction equipment manufacturer Cash contract This valuable Augangenta is $ 110 million. Marathon Hack the Box, a Cybercquire Upskilling and Talent Evaluation Platform also sold some of its shares in the investment agency Carlyle on one Secondary transactionThe
We chatted with Papadopallos before sitting with him as part of the first Stiveis evening in Athens on Thursday, May 7th, a deep dive with the Prime Minister of Greece, will also include. Kiriacos mitsotacisThe What did we want to know – and the central questions will be Thursday night – that is: why grease, and why now?
Histor has seen less initiative investment than other European countries in Greece. What, if something, has changed locally that enables you to raise € 75 million funds when the global funding has become more challenging?
For early, marathon first worldwide top performer [realized returns]; We have created a portfolio that has well held the current Jitzist, for example, AI-auctional scientific research, robotics or defense ideals.
What is the thesis of your firm and the extended timeline we are seeing to exit the global exit, how does the thesis of this new fund are separated?
We are supporting the founders who do something in the important market. It can be difficult because it requires unique knowledge like research PhD or higher agencies, which means the burden of controlled or neglected art like managing the power grid. And we continue to double our rapid growing community, which is as much aspiring as the experience and skills.
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Greek startups are facing the challenges of scaling out of the domestic market. How are you evaluating the possibility of international growth in this environment where capital skills are more important than rapid expansion?
I request to be different. Greek startups earned local talent from the first day to serve the top worldwide customers and markets. There is virtually no earning from the domestic market across our portfolio. However, they are serving the best part of Fortune 500.
At the same time, capital skills and Team Grit are the second nature to our community.
We are watching low IPOs worldwide and watching the extended holding periods for enterprising companies. How did it affect your conversations with your limited partners about the expected timeline and return?
We don’t need a decor to work on our funds in the economy. We invest soon, maintain enough equity position and keep our funds smaller in size. They provide various opportunities for meaningful returns, including good secondary and strategic M&A, before the IPO. We did it for the second time in 2021 when most markets promised the infinite holding time. Cash king in our culture. It looks like many others have forgotten it.
Many European VCs are emphasizing deep technology and AI. Is the marathon taking the same approach, or you can see specific opportunities with the Greek ecosystem?
Of course we are all, but the definition of deep technology expands and refers to different things to different people. We are not focusing on any particular sector every we are – instead, we are focusing on changing their sectors. We were probably the first generalist VC to invest in defense before the Ukraine war.
Histor has received less funds than the Greek founder Berlin, Paris or Stockholm parts. Are you watching the evaluation of Greek startups that reflect this discount and it creates better return opportunities?
In our experience it is not about geography or price. We are supporting the founders at non-consolesus opportunities that will ignore most VCs. We are moving fast with the ICT of ICT, and we do not ask who is investing. They can sound like table spots; They are not yet.
Given the Challenging Global Exit environment, how are you advising your portfolio companies about a strategic alternative to secondary sales or Aqui-les?
We work toward the default living situations with our portfolio companies. Starting from there, all the alternatives are on the table. We see that the founder really wants to run their companies in the long run. We believe that a secondary sale can actually help it and often we are helpful in this national situation.
The EU emphasized startups supporting various funding systems. How important is the non-dual capital capital to your portfolio companies from these sources more than five years ago?
We welcome any national initiative. However, we advise the founders of our portfolio that do not waste time on budget -related activities.
How the advanced macroeconomic situation in Greece has influenced both of your fundraising process and the quality of the startups you see?
This is always good when you are not making press titles, but what we do is less relevant to local macro. When it comes to the talent front, I will really say that if there is a relationship, it is the opposite. The adversity is the mother of all inventions.
Many American VCs have returned from European investment. Has it made more opportunities for local funds like marathon, or it has made the syndicating deals more challenging?
This is certainly a separate market, but creates enhanced opportunities for European investors. I don’t think that the capital of capital in 2021 has really changed the opportunities of European agencies. We must always rely on ourselves and be combined with the founders in the long run.