TANEO to set up Fund of Funds with 100 mln euros

The Greek New Economy Development Fund (TANEO) plans to set up a new Fund of Funds investment vehicle, with an initial capital of 100 million euros, in the framework of implementing an Investment and Development investment plan of Economy and Development ministry.

The new investment vehicle has the option of raising its initial investment, if necessary, with the aim to participate in the capital of small and medium-sized enterprises that have launched financial and business restructuring actions and addressed an invitation to the members of investment community to participate in the project. The invitation covers all interested investors and investment managers. The new investment vehicles will be managed by either Greek or foreign agencies from the private sector and will invest on private/financial criteria on Greek SMEs through acquiring equity stakes or convertible bonds.

TANEO plans a series of scheduled meetings with interested parties by February 15, 2018.