Marathon Venture Partners have recently completed the final close of its fourth fund at €75 million capital commitments. This accomplishment further cements their status as a rising force in the Greek startup ecosystem. With this new funding, the firm’s total assets under management rises to €175 million. Today it is known as one of the most prominent seed-stage investors in Greece’s vibrant technology ecosystem.
We started Marathon Marathon Venture Partners eight years ago. They’re particularly tuned in to supporting Greek startups, which have a history of struggling to scale past their home market. It is an exciting time for tech investment across Europe right now. Yet, Greek founders are attracting a fraction of the funding enjoyed by their peers in cities such as Berlin, Paris and Stockholm. This gap has historically stunted the growth trajectory of cutting-edge companies coming out of Greece.
The Greek venture capital ecosystem has historically fallen behind other European countries in terms of the level of investments made. Recent positive changes in the country’s macroeconomic landscape are starting to change that story. From the perspective of Marathon Venture Partners, our firm has experienced more positive momentum in our own fundraising efforts. Importantly, they are doing this while meeting better-quality startups. The firm is committed to finding and growing local talent. Consequently, a lot of Greek startups are quickly using their talents to work with top-tier global customers.
Under the leadership of foundin-partner, K. Particularly, it was the first generalist venture capital firm to invest in defense technology. This decision preceded even the deepening of the Ukraine war, demonstrating its ambition to branch out into various sectors. Furthermore, in 2021, the firm engaged in secondary investments at a time when other market players were focused on long-term holdings. By taking this proactive approach, Marathon has been able to pivot as market conditions have changed, but still fulfill their mission of supporting the highest potential startups.
One of the firm’s standout accomplishments is its portfolio company, Augmenta. Earlier this year, they exited Augmenta to CNH for a tremendous $110 million. This exit is a testament to the high potential returns to be found in the Greek startup space. Most importantly though, it shows their sharply honed knack for spotting and nurturing brilliant ventures.
In a tumultuous European investment market, Marathon Venture Partners remains focused on the mission and committed to their long-term strategy. Most American venture capitalists have retrenched from these markets, but we’re doubling and tripling down. The firm is passionate about being “day one partners to Greek tech founders,” providing operational support and guidance that goes far beyond their investment capital. The Greek startup community emphasizes capital efficiency and smart, resilient teams. This deep customer orientation allows these companies to ramp up their sales and provide protection even in recessions.
Marathon Venture Partners recently started a new cycle with its €75 million fund. Their aim is to enable more Greek startups to grow and reach markets beyond Greek borders. The firm’s motto is to invest in the most creative mind, cultivate the best ideas and create an enduring entrepreneurial ecosystem. This not only accelerates the scale-up of individual companies, but it increases Greece’s reputation as a competitive player on the international tech stage.
