Marathon Venture Capital in Athens, Greece has completed the first closing of its second fund, reaching the €40m / $47M mark. Backing the new fund is the European Investment Fund, HDBI, as well as corporates, family offices and HNWIs around the world (plus many Greek founders). It plans to invest in Seed-stage startups from €1m to 1.5m initial tickets for 15-20% of equity.
Team changes include Thaleia Misailidou being promoted to Principal, and Chris Gasteratos is promoted to Associate. Marathon’s most prominent portfolio company is Netdata, which last year raised a $17 million Series A led by Bain Capital, and later raised another $14m from Bessemer. On the success side, Uber’s pending $1.4B+ acquisition of BMW/Daimler’s mobility group was in part driven by a Marathon-backed startup, Taxibeat, which was earlier acquired by Daimler. Partners George Tziralis and Panos Papadopoulos tell me the fund is focused generally on enterprise/B2B, plus “Greek founders, anywhere”. Highlights of Fund One’s investments include:- Netdata (leading infra monitoring OSS, backed by Bessemer & Bain)
- Lenses (leader in DataOps, backed by 83North)
- Hack The Box (cybersecurity adversarial training labs)
- Learnworlds (business-in-a-box for course creators)
- Causaly (cause-and-effect discovery in pharma)
- Augmenta (autonomous precision agriculture)