According to Panos Papadopoulos, a partner, Marathon Venture Partners, Athens, is proud of the “one -day partner of Greek partners.” According to Papadopoulos), the latest funds have been closed with capital promises.
The vehicle brings the total assets of the company to 175 million euros. This is a reflection of Greece’s eight -year -old seed investor and some of the outlets. Among them, Last year, Marathon portfolio company, AUGMENTA, was sold to CNH. Farm machinery and construction equipment manufacturers have evaluated AUGMENTA at $ 110 million. Marathon also sold some shares to Carlyle, an investment company in the second trading, in Hack the Box, a cyber security and talent evaluation platform.
We have a conversation with PAPADOPOULOS before we matched with him as part of Techcrunch’s first Strictlyvc evening in Athens on Thursday, May 8. It also includes a deep diving with Greek Prime Minister Kiria Course Mitsutaki. What do we want to know, and what are the questions about Thursday night? Why Greece, and why now?
Greece has historically fewer venture investments than other European countries. What has changed locally to raise 75 million euros funds when the global fundraiser is getting harder?
First of all, marathon I is the best percentile player in the world (Realization). For example, we have built a portfolio that captures the current ZEITGEIST before the AI support science research, robotics or defense is a standard.
How is this latest fund’s paper different when considering the expanded timeline we see for the world exit?
We are founders who work hard in an important market. It can be difficult because it requires unique knowledge such as Research PHD or high organs. This means an understanding of regulations or overlooked industries such as Power Grid Management. And we will continue to double the number of communities that grow rapidly, accumulating experience and expertise with ambitions.
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Greek new companies have traditionally faced scaling beyond the domestic market. How do you evaluate the company’s international growth potential in this environment, which is more important than the rapid expansion of capital efficiency?
I pleaded to change. Greek new companies use local talent to provide services to customers and markets from the first day. There is little profit from the domestic market throughout our portfolio. But they occupy the most important part of Fortune 500.
At the same time, capital efficiency and team grit are the second personality of our community.
We are seeing a fewer and expanded IPOs worldwide by venture support companies. How did this affect the dialogue with a limited partner on the expected schedule and profits?
We do not need Deca Ning, where fund economics can work. We invest early, maintain a significant stock status, and maintain a small fund size. They provide a variety of opportunities for meaningful profits, including secondary and strategic M & A before IPO. We rewrote the second when most markets promised infinite holding time in 2021. In our culture, cash is king. Many others seem to have forgotten it.
Many European VCs emphasize Deep Tech and AI. Are marathon taking a similar approach or see different opportunities depending on the Greek ecosystem?
Of course, we all of us, but the definition of deep technology expands, which means many different things for others. We are not focusing on the specific sector itself. Instead, we are focusing on those who change their sectors. We are probably the first general VC invested in defense before the Ukrainian war.
Greek founders have historically been less funded than the opponents of Berlin, Paris or Stockholm. Are you evaluating the Greek new company that reflects this discount and creates an opportunity for better profits?
In our experience, this is not about geography or price. We are founders of the vortex opportunities that most VCs will ignore. We move quickly with beliefs and do not ask who is investing. These can sound like a table steak. They are still not.
Given the challenging global exit environment, how do you advise your portfolio company about strategic alternatives, such as secondary sales or acquisition recruitment?
We cooperate with the portfolio company to collaborate for living scenarios by default. From there, all options are on the table. We truly want to run the company in the long run. We can help secondary sales to actually for this, and most we support such scenarios.
The EU emphasized the support of new companies through various funding mechanisms. How important is the capital for the portfolio company compared to these sources compared to five years ago?
We welcome that initiative. But the founders of portfolios recommend not waste time on non -market activities.
How did Greece’s improved macroeconomic situation affect the fundraising process and the quality of the new company?
It is always good when you do not create a press headline. But what we do is less related to local macro. As for the talent front, I would say that if there is a correlation based on the innocent empiricism, it will be the opposite. Adversity is the mother of all inventions.
Many US VCs withdrew from Europe. Did this create more opportunities for local funds like marathon or have made synchte trading even more difficult?
Obviously other markets, but European investors have a higher opportunity. I don’t think the flood of capital in 2021 truly changed the opportunity to European companies. We must always believe in ourselves and match our founders in the long run.
