Big Pi Ventures, the venture capital firm founded in 2018 in Athens, Greece, announces the launch of Big Pi II, its second fund with a whopping 50 million euros (1st closing). The investment target of this new fund, like Big Pi I, is on start-ups with deep-technology products and compelling intellectual property.
Big Pi II will be leading seed financing rounds investing between €1-3 million in each company. The R&D and product teams will be based in Greece and the companies will be targeting the global market.
Big Pi Venture’s first fund has brought great results so far, with portfolio companies, such as TileDB, Intelligencia and Orfium, showing significant growth and raising further funding rounds. In total, nine portfolio companies have already received funding from investors such as Intel, Lockheed Martin and the University of Oxford, while one company has been sold to a Big Tech company.
Big Pi II’s lead investor is the Hellenic Development Bank of Investments (HDBI), which channels funds from the Recovery and Resilience Fund “Greece 2.0”, via the InnovateNow program. Also participating are 25 private investors, including banks, industry executives and founders of innovative tech businesses.
During the signing of the agreement between HDBI and Big Pi Ventures, the following were present: Mr. Thodoros Skylakakis, Deputy Minister of Finance, Mr. Yiannis Tsakiris, Deputy Minister of Development and Investments and Mr. Nikos Mantzoufas, Commander of the Special Coordination Service of the Recovery Fund. From HDBI, Drs. Haris Lambropoulos, President and Antigoni Lymberopoulou, CEO and from Big Pi Ventures, the Partners Marco Veremis, Aristos Doxiadis and Alex Eleftheriadis, as well as the Operating Partner, George Saliaris-Fasseas.