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Amid Greek tech boom, a prominent seed-stage firm locks down €75 million

Marathon Venture Partners, an Athens-based seed-stage venture firm, raised €75 million for its latest fund, bringing total AUM to €175 million. This growth reflects Greek startups' increasing global competitiveness, with successful exits like the sales of Augmenta and shares in Hack the Box. The firm focuses on unique, hard-to-enter markets while adapting strategies amid a changing global investment landscape.

Key points

  • Marathon Venture Partners secured €75 million in its latest fund.
  • Total assets under management now reach €175 million.
  • Successful exits include Augmenta's sale valued at $110 million.
  • Marathon sold shares in Hack the Box to Carlyle.
  • The firm emphasizes backing founders tackling difficult markets.
  • Greek startups traditionally faced scaling challenges; Marathon sees potential in global markets.
  • Capital efficiency and long-term growth are prioritized over rapid expansion.
  • Global IPO market is struggling, thus Marathon focuses on secondary sales and M&A.
  • They aim for founders in less competitive niches to enhance investment returns.
  • The EU supports startups but Marathon advises against undue reliance on non-market funding.

Why it matters

  • The rise of Greek tech reflects broader European trends as local markets gain traction post-COVID.
  • Funding challenges have led VCs to focus on strategic growth measures, paralleling Marathon's approach.
  • The shift in American VC capital towards European local funds opens new avenues for investment.
  • The growing interest in sectors like deep tech and AI aligns with Marathon's investment strategy.

Marathon Venture Partners embodies the evolving landscape of Greek venture capital, highlighting resilience and adaptability amid global challenges, signaling a promising future for tech innovations in Greece.