Elikonos Capital secures €224M to invest in Greek businesses

According to the company, the completion of the fundraising process, one year after the initial closing in October 2025 at €175 million, reflects the investment community’s confidence in Elikonos Capital’s strategy and track record, as well as the growth prospects of Greek businesses.

The investor base of Elikonos 3 includes domestic and international institutional investors, among them the Hellenic Development Bank of Investments (HDBI), the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB). Greek banks, pension funds and private investors from Greece and abroad also participate in the fund.

Elikonos 3 is a private equity fund targeting investments in Greek small and medium-sized enterprises, as well as mid-cap companies operating in dynamic sectors of the economy. Its objective is to support business growth and strengthen the international presence of its portfolio companies.

Elikonos Capital’s investment approach combines capital provision with strategic guidance and operational expertise. Through close collaboration with entrepreneurs and management teams, the firm supports investment plans, increased production capacity, new product development and international expansion, with the aim of generating long-term value.

The Elikonos 3 investment team is led by experienced investment professionals Takis Solomos, Pantelis Papageorgiou and Dimitris Vidakis.

The fund has already completed six investments, in Mytilos, Ribco, Vamvalis Foods, AKRITAS, To Manna – Tsatsaronakis and Vezyroglou, with approximately €60 million in total capital deployed. The investments span key sectors of the Greek economy, including agri-food, food manufacturing and building materials, reflecting the fund’s strategy of supporting productive and internationally oriented businesses across Greece.

Pantelis Papageorgiou, Partner and Co-Founder of Elikonos Capital, commented: “The successful completion of fundraising for Elikonos 3 represents an important milestone for Elikonos Capital. It reflects investors’ confidence in our strategy and in the prospects of Greek entrepreneurship. Greece has dynamic businesses with competitive products and significant growth potential. Our objective is to continue supporting entrepreneurs by providing not only the capital they need, but also the strategic and operational support required to implement their growth plans and strengthen their position in both domestic and international markets.”