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Venture capital is a relatively new, but growing, form of financing that goes beyond prevailing practices in the banking system of Greece and neighboring countries. A number of factors are leading to an increase in demand for venture capital:

High interest rates: Average interest rates are more than 4-5 percentage points above the inflation rate, a spread lower than in the past but still significant in an intensively competitive economy.

High management costs of loans.

Strict collateral requirements by Banks for providing loan capital are a serious impediment, particularly to developing and small to medium-sized enterprises lacking fixed assets.

Limited available bank capital due to coverage of fiscal needs and deficits, use of large capital sums for major projects, etc.

Companies/ need to share risk.

Effective contribution of venture capital funds to their portfolio companies due to substantive participation in management; significant added value of a strategic investor (such as a VC fund), particularly in firms aspiring to go public.

VC funding –as opposed to debt financing- allows companies much better control of their leverage (debt/equity ratio). It allows them to invest in development and modernization without increasing financing risk due to excessive borrowing.

Attica Ventures exits Antcor stake to u-blox AG
Event to mark the tenth anniversary of the founding of Attica Ventures
Significant growth in Attica Ventures' listed investments
Special distinction for Attica Ventures as it wins the ACCI 2011 Increased Employment Award

Zaitech Fund

Attica Bank

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