Since our initial involvement in VC/PE fund management, we have identified several attractive investment opportunities and have successfully invested in and divested from corporates across all investment stages and through multiple economic cycles having delivered superior returns to our investors.

The Funds raised were backed by prominent members of the Greek business and shipping communities, private and institutional investors and the Greek state.

Synergia Hellenic Fund IV

First Closing: €46m

Structure: The fund is established as a Greek Venture Capital Closed-end Fund (VCF/AKES of Art. 7 of Law 2992/2002 Gaz)

Status: Investment period

IBG Hellenic Fund III (HFIII)

Manager: HCP

Funds Under Management: €40.6m

Vintage Year: October 2009

Term: 8 + 2 years

Structure: A Private Equity Fund structured as an A.K.E.S. under Greek Law 2992/2002

Number of Investors: >30

Strategy/Sector: HFIII is a dedicated investment vehicle investing solely in the Renewable Energy Sources (RES) sector emphasizing on the development of wind and photovoltaic (PV) parks.

Portfolio: HFIII currently has a share of 238.2MW in an overall portfolio of 299.7MW in PV & Wind projects either in operation or at various stages of development in Greece.

Status: Post Investment period

Thermi Taneo Venture Capital Fund (TTVCF)

Co-manager: HCP

Funds Under Management: €24.0m

Vintage Year: March 2008

Term: 10 + 2 years

Structure: A Venture Capital Fund structured as a Greek Venture Capital Closed-end Fund (VCF/AKES of Art. 7 of Law 2992/2002 Gaz).

Number of Investors: 3

Strategy/Sector: TTVCF is a generalist fund principally focusing on investments associated with environment, climate change, clean energy and energy efficiency emphasizing in the development of wind and PV parks.

Status: Post Investment period

IBG Hellenic Fund II (HFII)

Funds Under Management: €17.5m

Vintage Year: 2004

Term: 8 + 2 +2 years

Status: Fully liquidated

Structure: A Venture Capital Fund structured as an A.K.E.S. under Greek Law 2992/2002

Strategy/Sector: HFII invested solely in small & medium enterprises registered and headquartered in Greece.

Number of Investors: >30 including TANEO (Greek Sovereign Fund of Funds)

Portfolio: HFII made 6 investments and has been fully liquidated since December 2016, having achieved a cash multiple of 1.74x and a net IRR of 23.5%.

AVC Venture Capital Fund (AVC)

Funds under management: €4.4m

Vintage Year: 2001

Term: 10 + 2 years Status: Fully liquidated

Structure: A venture capital fund structured as an E.K.E.S. under Greek Law 2367/1995.

Strategy/Sector: AVC was a later stage investment vehicle, primarily involved in bridge financing deals, with no specific sector specialization, investing solely in small to medium, non-listed Greek enterprises.

Portfolio: AVC made 5 investments and was officially liquidated by Q1 2007 having achieved a cash multiple of 1.6x and a net IRR of 20.2%

JESSICA Initiative

Funds advised: €50m

Background: JESSICA stands for Joint European Support for Sustainable Investment in City Areas. This initiative was developed by the European Commission and the European Investment Bank (EIB), in collaboration with the Council of Europe Development Bank.

The starting point of JESSICA’s implementation in Greece was the signature of the Funding Agreement between the Hellenic Republic and European Investment Bank (EIB) in July 2010, for the establishment of the JESSICA Holding Fund Greece as a separate block of Finance within EIB.

Structure: In March 2011, the competent Managing Authority (Special Coordination Unit of NSRF Operational Programs, Greek Ministry for Development & Competitiveness) in cooperation with the EIB proceeded with a Call for Expression of Interest (EoI) for the selection of Urban Development Funds (UDF’s) to act as financial intermediaries that would constitute the core function of JESSICA’s implementation in Greece.

HCP was selected by EIB, alongside Investment Bank of Greece under the context of the JESSICA Initiative, to actively advise the latter on the management of 4 UDFs, to invest in urban development projects in the regions of Eastern Macedonia and Thrace, North Aegean, Western Macedonia and Epirus.

Strategy/Sector: Allocated funds could be invested in urban development projects such as: urban infrastructure, including transport, water/waste water, renewable energy, energy efficiency improvements, real estate development (office buildings, shopping malls etc.) redevelopment of brownfield sites, as well as site clearance and decontamination, health and tourism. The investment in each urban project could be implemented through equity and/or debt with attractive terms and conditions to the investee.

Vintage Year: 2012

Investors: The Greek State, through the use of the EU structural fund allocations.

Status: The investment period ended on 31.12.2015.

Investments implemented:

  • Renovation of an old tobacco warehouse to a modern 5* hotel
    Region: Eastern Macedonia
    Investment Instrument: Debt
  • Implementation of an Integrated Solid Waste Management System
    Region: Western Macedonia
    Investment Instrument: Debt
  • Implementation of Athletic Infrastructures and Leisure facilities
    Region: Epirus
    Investment Instrument: Debt