Diorama Fund to invest 110 mln euros in extrovert Greek companies

Diorama, a new development fund based in Luxembourg with a portfolio of around 110 million euros, is focusing on dynamic and extrovert Greek enterprises that do not operate exclusively in the domestic market and has already invested more than 26 million euros in three such companies, Nikos Koulis, chief executive of Deca Investments, the company that manages Diorama Fund’s capitals, told reporters during a news conference.

Koulis said investments will be made in extrovert Greek enterprises seeking to expand on a European and international level in their sectors. He noted that the fund will invest around 5-15 million euros in each company, offering development capital, capital to raise production capacity, for takeovers, fixed capital and moving capital. The Fund does not want any asset or personal guarantees and collaterals and noted that investor protection comes from the investment plan and the agreement of shareholders and the quality of the management. Koulis said the Fund has invested in three companies so far and plans to invest in at least another four companies this year.

Nikos Nanopoulos, chairman of Diorama Fund, said investors of the Fund were Dimitris Daskalopoulos -former head of the Federation of Hellenic Enterprises (SEV)- (with 50 million euros), the European Investment Fund, EBRD and the European Investment Bank, along with other significant investors (among them banks, insurance companies and Greek entrepreneurs).

Dimitris Daskalopoulos told reporters that Greece deals with the crisis with the same, predictable and boring way.

“We seek our loan installment, we denounce our borrowers and austerity memorandums and in the end we accept everything until the next round. We pretend to resist in the name of unemployment of low-pensioners, but their numbers finally increasing,” he said. He expressed his belief that there were business forces and millions of people who will invest in the country if they seek the climate changing.