Key Takeaways
- • Elikonos Capital completed the final close of Elikonos 3 S.C.A. SICAV-RAIF at €224 million in total commitments, beating an original €180 million target.
- • The fund's anchor and co-investors include the Hellenic Development Bank of Investments, the European Investment Fund, the EBRD and the Black Sea Trade and Development Bank, alongside Greek banks, insurers, pension funds and family offices.
- • Elikonos 3 has made six investments deploying roughly €60 million, with two more expected by year-end, across agri-food, food manufacturing and building materials.
- • The fund targets Greek SMEs and small mid-caps and is classified under Article 8 of the EU's Sustainable Finance Disclosure Regulation.
Summary
Elikonos 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, according to the source report from startupper.gr as syndicated by Dealroom. The fund invests in Greek small and medium-sized enterprises and small mid-caps, with a focus on growth, exports and internationalisation.
The final close came a year after a €175 million first close in October 2025, followed by a €200 million second close. The fund exceeded its original €180 million target, which the source attributes to investor confidence in Greek business prospects.
The investor base combines public and private capital. The Hellenic Development Bank of Investments, the European Investment Fund, the European Bank for Reconstruction and Development and the Black Sea Trade and Development Bank are backers. Greek banks, insurance and pension funds, family offices and private investors from Greece and abroad also committed.
Elikonos 3 has completed six investments: Mytilos, Ribco, Vamvalis Foods, AKRITAS, To Manna – Tsatsaronakis and Veziroglou, deploying roughly €60 million. The deals span agri-food, food manufacturing and building materials, and two further investments are expected by year-end. The firm pairs capital with strategic and operational support. Partner and co-founder Pantelis Papageorgiou described the fundraising completion as "a significant milestone" and pointed to Greek businesses with "competitive products and significant growth potential" (translated from Greek).
The fund is classified under Article 8 of the EU Sustainable Finance Disclosure Regulation, embedding environmental, social and governance criteria in its strategy. The source notes the raise follows EOS Capital's SME and mid-cap fund, which closed at €250 million in April 2026, and points to growing domestic capacity for expansion capital in Greece as public institutions draw private commitments into the market.
The final close came a year after a €175 million first close in October 2025, followed by a €200 million second close. The fund exceeded its original €180 million target, which the source attributes to investor confidence in Greek business prospects.
The investor base combines public and private capital. The Hellenic Development Bank of Investments, the European Investment Fund, the European Bank for Reconstruction and Development and the Black Sea Trade and Development Bank are backers. Greek banks, insurance and pension funds, family offices and private investors from Greece and abroad also committed.
Elikonos 3 has completed six investments: Mytilos, Ribco, Vamvalis Foods, AKRITAS, To Manna – Tsatsaronakis and Veziroglou, deploying roughly €60 million. The deals span agri-food, food manufacturing and building materials, and two further investments are expected by year-end. The firm pairs capital with strategic and operational support. Partner and co-founder Pantelis Papageorgiou described the fundraising completion as "a significant milestone" and pointed to Greek businesses with "competitive products and significant growth potential" (translated from Greek).
The fund is classified under Article 8 of the EU Sustainable Finance Disclosure Regulation, embedding environmental, social and governance criteria in its strategy. The source notes the raise follows EOS Capital's SME and mid-cap fund, which closed at €250 million in April 2026, and points to growing domestic capacity for expansion capital in Greece as public institutions draw private commitments into the market.
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