Articles for June 2016

Openfund Concludes Investment Period, Reports Results

Openfund started in 2009 to become the first startup investor in Greece and the broader region. Our first, €500k syndicate proved quite successful, giving birth to companies like Taxibeat.

Jeremie Openfund II was launched in December 2012 with €15m under management to take this track record to the next level. Three and a half short years later, we are happy to report 21 investments and a top-tier performance by world-class standards, driven by companies such as Workable.

Five thousand people have entrusted us with their ideas, five hundred have worked in portfolio companies, and a hundred entities have invested in or coinvested with us, among them a dozen institutional investors. A Greek tech ecosystem is now in place, and we take pride in having contributed to its establishment.

Today, we are announcing the end of our second fund’s investment period. In plain English, the fund is now fully allocated to the existing portfolio, and we won’t be able to make any new investments.

We are now a bit more experienced as technology investors. We also see a wealth of opportunities taking shape, and we are committed to continuing nurturing them. We have decided to raise two new funds to take the legacy of Openfund further, and to contribute more capital and broader expertise to the Greek startup ecosystem.

We’re excited to see how far we’ve come. But now, it’s back to work – because we still have so many things to do, and a long way left to go.