Marathon Venture Capital Closes $47M First Round for Fund II
Athens-based Marathon Venture Capital has successfully completed the first closing of its second fund, securing €40 million ($47 million). The fund attracted backing from prominent investors including the European Investment Fund (EIF), HDBI, global corporates, family offices, and high-net-worth individuals (HNWIs), along with several Greek founders.
Investment Strategy & Team Updates
- Target Stage: Seed-stage startups
- Investment Range: €1M–€1.5M initial tickets for 15–20% equity stakes
- Focus Areas: Enterprise/B2B startups and Greek founders worldwide
Key Team Promotions:
- Thaleia Misailidou elevated to Principal
- Chris Gasteratos promoted to Associate
Portfolio Highlights: Success Stories from Fund I
Marathon’s first fund has already demonstrated impressive traction, with most of its 10 portfolio companies advancing to Series A rounds. Notable investments include:
- Netdata: Infrastructure monitoring leader backed by Bain Capital (\(17M Series A) and Bessemer Venture Partners (\)14M follow-on).
- Lenses: DataOps innovator supported by 83North.
- Hack The Box: Cybersecurity training platform.
- Causaly: AI-driven pharma research tool.
- Augmenta: Precision agriculture technology.
Collectively, Fund I’s portfolio has raised 4x Marathon’s total invested capital, with an estimated enterprise value of $350 million.
Greek Tech Ecosystem & Global Reach
Partners George Tziralis and Panos Papadopoulos—pioneers in Greece’s startup scene for over 13 years—have been instrumental in fostering local innovation. Their initiatives include:
- Global Networking: Hosting “Greeks in Tech” meetups across major hubs (Berlin, London, NYC, SF).
- Notable Exit: Taxibeat, acquired by Daimler and later pivotal in Uber’s $1.4B+ acquisition of BMW/Daimler’s mobility group.
Looking Ahead
With Fund II, Marathon aims to replicate and expand its early-stage success, further cementing Greece’s position as an emerging tech hub. The firm’s dual focus on enterprise/B2B solutions and Greek founders globally underscores its commitment to scalable innovation.
For more details, visit Marathon Venture Capital’s official site.
