An equity commitment of up to EUR 10 million in favour of Marathon Venture Capital Mutual Fund II (the "Fund"). The project will form part of the Bank's Early-Stage Innovation Facility, a EUR 100 million facility through which the EBRD selectively invests in early-stage venture capital funds.
The Fund will make equity and equity-related investments in early-stage technology companies operating in Greece.
ETI score: 100
The project will contribute towards the overall transition goals of the Early-Stage Innovation Facility, specifically seeking to enhance the resilience of financial markets by expanding the local venture capital asset class and increasing the competitiveness of innovative early-stage companies.
MARATHON VENTURE CAPITAL MUTUAL FUND II
The general partner of the Fund will be Marathon A.E.D.A.K.ES.
EBRD Finance Summary
Total Project Cost
The Bank's participation will support the Fund in reaching its target size.
Environmental and Social Summary
Categorised FI (ESP 2019). The Fund will be required to comply with EBRD's Performance Requirements 2, 4 and 9, adopt and implement the EBRD's Environmental and Social Risk Management Procedures for Active Equity Funds and submit Annual Environmental and Social Reports to the Bank. The Fund will make early-stage investments in technology companies engaged primarily in the development of business-to-business enterprise products (e.g. software), which are overall characterised as low risk from an environmental and social standpoint. EBRD is currently working with the client to establish an Environmental and Social Management System commensurate with the low risk of the portfolio.
Technical Cooperation and Grant Financing
Company Contact Information
Lempesi 5-7, Athens 117 42, Greece
PSD last updated
27 May 2021
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Independent Project Accountability Mechanism (IPAM)
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