Greece's Elikonos closes third private equity fund at €224M
What's the deal? ElikonosDealroom has a profile for this one. Try Dealroom → Capital has completed the final close of its third private equity fund, Elikonos 3 S.C.A. SICAV-RAIF, at €224 million in total commitments. The fund backs Greek small and medium-sized enterprises (SMEs) and small mid-caps, targeting growth, exports, and internationalisation.
Who's backing it? Investors include the Hellenic Development Bank of InvestmentsDealroom has a profile for this one. Try Dealroom →, the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD)Dealroom has a profile for this one. Try Dealroom →, and the Black Sea Trade and Development Bank. Greek banks, insurance and pension funds, family offices, and private investors from Greece and abroad also committed.
Why now? The final close lands a year after the fund's €175 million first close in October 2025 and a €200 million second close. It beat an original €180 million target, a sign of investor confidence in Greek business prospects.
What's the endgame? Elikonos 3 has already made six investments — in MytilosDealroom has a profile for this one. Try Dealroom →, RibcoDealroom has a profile for this one. Try Dealroom →, Vamvalis FoodsDealroom has a profile for this one. Try Dealroom →, AKRITASDealroom has a profile for this one. Try Dealroom →, To Manna – TsatsaronakisDealroom has a profile for this one. Try Dealroom →, and Veziroglou — deploying roughly €60 million. The deals span agri-food, food manufacturing, and building materials; two more are expected by year-end.
The firm pairs capital with strategic and operational support. "The completion of fundraising for Elikonos 3 is a significant milestone," said Pantelis Papageorgiou, partner and co-founder, adding that Greece has "dynamic businesses with competitive products and significant growth potential." (translated from Greek)
The fund is classified under Article 8 of the EU's Sustainable Finance Disclosure Regulation, embedding environmental, social, and governance criteria into its strategy.
The signal: The raise points to growing domestic capacity for expansion capital in Greece. It follows EOS CapitalDealroom has a profile for this one. Try Dealroom →'s comparable SME and mid-cap fund, which closed at €250 million in April 2026, and underscores how public institutions are drawing private commitments into the market.
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