With the Hellenic State as anchor investor, by utilizing 25% of the proceeds from the 5G auction, Phaistos Investment Fund is focusing on investments in specialised 5G-related products and services, with an edge to the relevant technology and business-centred experiences.
Following the successful completion of the first round of fundraising the investors of Phaistos Investment Fund are:
- The Hellenic Development Bank of Investments, representing the Hellenic State
- The OTE Group / Deutsche Telekom
- The Latsco Family Office of Ms Marianna Latsis
- The family office of Mr Dimitris Daskalopoulos
By establishing relations with the booming community of incubators, accelerators, and early-stage Venture Capital funds, as well as various academic R&D institutions, Phaistos will invest in innovative enterprises that are developing products and services applicable to the global market.
Moreover and with connections to the vibrant Greek diaspora, Phaistos Investment Fund will attract international companies to establish a presence in Greece, both for R&D activities and as a testbed for their products and services. This attractiveness is further enhanced by the unique character of the fund having been endowed with access to 5G spectrum frequencies for a defined period, reserved among others, for its investee companies to establish pilot and test applications. Moreover, strategic cooperation between Phaistos and innovative “product development centric” Universities and R&D organizations as well as infrastructure conglomerates will provide investee companies with valuable R&D capabilities and facilities, significantly shortening Time-To-Market.
Phaistos Investment Fund is managed by 5G Ventures S.A., an independent fund management company established by the Hellenic Corporation of Assets and Participations S.A. (HCAP). 5G Ventures is managed by a team of seasoned professionals with considerable experience in both the Telecommunications / Technology industry as well as in VC / PE management.
Being a subsidiary of HCAP is an additional advantage, since a range of subsidiary companies of HCAP can act as the liaison and facilitator for the use of 5G in the wider public sector, providing “pilot customers” for investee companies to achieve viable proof of concepts and removing the uncertainty of the “potential 1st customer”.
Additionally, capitalizing on its unique capabilities to offer, in addition to funding, access to both reserved spectrum for trials and tests as well as first customers, Phaistos Investment Fund will have the opportunity to co-invest primarily with leading international venture capital firms, thus having access to an international pool of deal flow, and to facilitate exits from its investments in the global markets.
Investing in the evolving 5G era through Phaistos presents a unique opportunity for institutional investors to take advantage of the expected high growth of the sector through an investment vehicle ideally suitable for the new environment, where it is expected that investment opportunities will be offered across several years and industries, including both enablers and platform companies.