SPOROS Announces Launch of Greece’s First Circular Economy Fund

Apr 29, 2024 | Press releases

The €30.5 million Impact Fund supports innovative Greek businesses committed to extending products life-cycle, minimizing waste and promoting resource efficiency.

Athens, Greece – SPOROS Impact Ventures, an Athens-based, alternative investment management company, announced today the launch of SPOROS Platform, an unprecedented impact fund dedicated to developing Greece’s Circular Economy ecosystem, with an initial capital of €30.5 million.

Sporos Platform is supported by the Hellenic Development Bank of Investments S.A. (ex.TANEO) in the framework of the project “Greek Green Funds”, alongside 10 private investors from Greece and Εurope, including systemic banks, institutional investors and key stakeholders in green finance, shipping, and international impact investing space, SPOROS fund will support sustainable Greek businesses via transformative investments, flexible financial tools, expert consulting, and a holistic ESG/SDG methodology to enhance and measure positive impact.

Executing a “smart specialisation strategy”, SPOROS focuses on competitive sectors with untapped export potential, considerable margin to improve environmental footprint, and the ability to catalyze industry-wide transitions towards circularity across the value chains. Initial focus areas include: clean energy & logistics, blue growth & sustainable tourism, bio-economy & agri-food, industrial symbiosis and remanufacturing, plastics-chemicals & e-waste. SPOROS team is now finalizing its first investments in circular re-use of second-hand smart phones and sustainable agri-food with production of green energy.

The official signing of SPOROS Fund Management Agreement took place at HDBI’s headquarters, with the presence of HDBI (ex.TANEO) President Dr. Haris Lambropoulos and CEO Ms. Antigoni Lymperopoulou, who made the following statement:

“It’s important that the SPOROS Platform Fund consists of a young and dynamic team that aims to invest in the transition to the circular economy. At the same time, it demonstrates that the design and implementation of our investment programs consistently address the real needs of the venture capital market for the resilient and sustainable development of our country.”

Also present were SPOROS Co-Founders Dimitris Simos, Gerasimos Routzounis, Alexandros Karydis-Karandreas, and Andrei Geica, as well as the Chairman of SPOROS Investment Committee, Mr. George Kofinakos, who stated:

“SPOROS (“Seed” in Greek) embodies resilience, value and evolution. Our team and strategy is future-proof, empowering SMEs to revolutionise their operations, production and service delivery. The SPOROS approach integrates positive impact and premium risk-adjusted returns, providing Greek businesses with strategic support to gain competitive momentum and enhance their resilience for a sustainable future within the Circular Economy. Through SPOROS Platform, our goal is to create inspiring “Circular Success Stories”, to ensure that the unique opportunity of the Recovery Fund and the European Green Deal takes deep roots and bears fruits to benefit the real economy. By making green investments that bring significant value to the environment, society and local communities, we aim to establish a solid foundation for long-standing growth. Collaborating with HDBI as a core partner multiplies our potential, contributing to the international resurgence of a Greek entrepreneurship ecosystem that is greener, more responsible, and far more impactful. Together, we are ready to unlock and accelerate the Circular transition, catalysing a transformation in production models, corporate culture and generation. We recognize the historic momentum surrounding Greece and seek to leverage it to its fullest extent.”