5G Ventures / Phaistos Investment Fund gains access to investment opportunities of the European Innovation Council Fund
5G Ventures / Phaistos Investment Fund announces that, following a relevant review, it has been included in the list of potential co-investors in enterprises financed by the European Innovation Council (EIC) Fund.
The EIC was launched in March 2021, with a budget of EUR 10 billion. It combines research on emerging technologies with an accelerator programme and the dedicated European Innovation Council Fund to scale up innovative start-ups and small and medium-sized businesses (SMEs). The EIC Fund provides financing of up to EUR 15 million to enterprises.
The EIC Fund provides selected investors -under certain conditions- with access to a pool of more than 130 enterprises that have been reviewed and received, or expected to receive, funding by the EIC itself. The pool includes small, medium-sized, and large enterprises from Europe and the rest of the world active in sectors such as manufacturing, agri-food, digital technology, supply chains, transport, Health services, and aerospace & space; sectors where 5G Ventures / Phaistos Investment Fund gives a strong focus.
The EIC Fund offers companies for co-investment that are selected through a competitive process and present the highest potential, while they are also subject to due diligence.
The co-investment option to enterprises carefully selected by the EIC Fund poses a great opportunity for investment companies such as 5G Ventures / Phaistos Investment Fund. The latter is an innovative national initiative of Greece. It has absolutely compatible targets with those of the newly-established EIC Fund and emphasizes on investments in sectors that utilise 5G and new-generation digital services.
It is noted that 5G Ventures / Phaistos Investment Fund has already developed a major “network of cooperation” with renowned members of academia (University of Patras, NCSR Demokritos) and the industry (Corallia, Vantage Towers Greece, Nokia Hellas, Cosmote), for the comprehensive support of its investees.