Athens-based Elikonos Capital closes €224m Elikonos 3 growth fund
By Kai Marek
Athens-based Elikonos Capital has closed Elikonos 3 at €224 million, about 24 percent above its €180 million target, to back Greek growth companies.
Elikonos 3
Athens, Greece
€224m
Other
Growth · Generalist
Athens-based manager Elikonos Capital has announced the final closing of its third fund, Elikonos 3, with a total capital volume of 224 million euros. The fund manager announced the closing on November 9, 2026, one year after the initial closing in October 2025, which raised €175 million. The EBRD’s project page had previously indicated a target volume of 180 million euros.
According to the EBRD, the fund employs a generalist approach, providing growth capital to Greek small and medium-sized enterprises (SMEs) and "small mid-caps" in dynamic sectors through equity and convertible bonds.
The fund is already active; its current portfolio includes six companies, with a total investment of approximately 60 million euros. These companies are Mytilos, Ribco, Vamvalis Foods, AKRITAS, To Manna Tsatsaronakis, and Vezyroglou.
The investor base consists of both public and private capital providers. Identified limited partners (LPs) include the Hellenic Development Bank of Investments, the EIF, the EBRD, and the Black Sea Trade and Development Bank. This group is complemented by Greek banks, pension funds, and private investors.
The team is led by Takis Solomos, Pantelis Papageorgiou, and Dimitris Vidakis. The predecessor fund, Elikonos 2, had a volume of 85 million euros and reached its final closing in July 2019.