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A tiny bit more VC money sloshing around Europe. This time it\u2019s the turn of Greece-based VC fund VentureFriends<\/a>, which is announcing the final closing of a \u20ac20 million fund to invest in Greek software and \u201chigh tech\u201d startups at the seed stage. The two Partners of the fund are Apostolos Apostolakis and George Dimopoulos, with Stefanos Katsimpas also acting as a senior Associate.<\/p>\n Over half the money was raised last year and I\u2019m told VentureFriends has already done about 20 investments<\/a>, but is keen to get the word out that Greek entrepreneurs have another investor to approach. Interestingly, unlike a lot of local European VCs, the firm\u2019s 40 or so LPs are all private. In other words, if I understand correctly, there is no tax-payer money being gambled here.<\/p>\n Specifically, Apostolakis says the fund will be investing amounts between \u20ac250-500,000 and can follow on up to a total of 1 million. It is targeting startups with strong teams and generating a little revenue, with e-commerce\/e-marketplaces, SaaS, AdTech, and on-demand services remaining a focus.<\/p>\n \u201cWe want to see network effects or high technology,\u201d he tells me. \u201cWe look for innovating hustlers solving big and important need-to-solve problems\u201d.<\/p>\n In case you aren\u2019t familiar with Apostolakis\u2019 work, he previously co-founded e-shop.gr, the first e-tailer in Greece, and in 2011 he co-founded e-food, a food delivery marketplace acquired in 2015 by Delivery Hero, providing a major exit for the Greek startup ecosystem.<\/p>\n He\u2019s also an active angel investor, including recently investing in Doctoranytime<\/a>, the doctor booking app launched in Belgium by ex-Take Eat Easy team members.<\/p>\n Notably, he and Dimopoulo were also among the first angel investors in Taxibeat, the taxi app that sold to Daimler<\/a> in February.<\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/05\/vf-team.jpg?w=680\")
A tiny bit more VC money sloshing around Europe. This time it’s the turn of Greece-based VC fund VentureFriends, which is announcing the final closing of a \u20ac20 million fund to invest in Greek software and “high tech” startups at the seed stage. The two Partners of the fund are Apostolos Apostolakis and George Dimopoulos, with Stefanos Katsimpas also acting as a senior… Read More<\/a><\/p>\n\n<\/img><\/a>
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