Summary:
40% of investors in Greek startups are from the US
€554 million raised in 2023, with 36% from US investors
Major companies like Cadence Design Systems and Intel investing in Greece
Partnerships between local and foreign venture capital are increasing
70% of startup funding came from foreign investors
Greek Startups Attracting US Investment
Last year, almost 40% of investors in Greek startups held a US passport, a significant increase from previous years when this figure was in the single digits. Major American companies, such as Cadence Design Systems and Intel, have made their mark in Greece by acquiring local tech firms. Furthermore, international entities like Alibaba and the NATO Innovation Fund are also exploring investments in Greek startups, particularly in defense and security sectors.
According to research by Found.ation, Greek startups raised €554 million in capital last year, with over 70% of this coming from foreign investors. Specifically, 36% of the funding was sourced from the US, followed by 24% from Europe and 6% from the UK. Greek investors contributed 25%.
Local venture capital funds are increasingly partnering with foreign investors, a trend that has grown stronger in recent years. The investment landscape in 2023 mirrored that of 2024, with over €455 million raised and 33% of these funds coming from American sources.
Foreign investment in Greece began gaining traction around eight years ago with the acquisition of Innoetics by Samsung, paving the way for more successful startups to emerge.
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