Greece's Ministry of National Economy and Finance announced a EUR 120 million commitment to the joint investment fund under the European Investment Bank (EIB) Group's European Tech Champions Initiative. Financed from the regular state budget, the contribution forms part of an expanded public and private investor alliance targeting financing for rapidly growing European technology companies. The alliance aims to channel more than EUR 10 billion into new equity investments and mobilize up to EUR 80 billion in total investment, with an average investment size of EUR 200 million.
Greece is one of six countries participating in the fund's first closing. Together with the EIB Group, the participating countries have assembled approximately EUR 2 billion in capital commitments for the Tech Champions fund of funds, which invests in other investment funds. Separately, major institutional investors and France's Tibi initiative have expressed their intention to direct more than EUR 8 billion toward Europe's innovation ecosystem and rapidly growing businesses.
The expansion builds on the European Tech Champions Initiative launched in 2023. It has supported 15 large venture capital funds that have invested in more than 50 companies based in the European Union, including 16 valued at more than EUR 1 billion.