Athens-based VC with €170M raised investing €500K-€2.5M in European and MENA tech startups
Athens-based VC with €170M raised investing €500K-€2.5M in European and MENA tech startups
Key people at VentureFriends.
VentureFriends is an Athens-based venture capital firm that has raised approximately €170 million across multiple funds to invest primarily in early-stage (pre-seed and seed) technology startups across Europe and the MENA region. Their mission is to back ambitious founders building high-tech software companies, focusing on sectors such as e-commerce, e-marketplaces, SaaS, ad tech, and on-demand services. They typically invest between €500K and €2.5M initially, with the capacity to follow on with larger amounts. VentureFriends positions itself as more than just a capital provider, offering strong operational support, mentorship, and a global network to help startups scale internationally. Their impact on the startup ecosystem includes accelerating growth for companies like Blueground and InstaShop, contributing to the maturation of the Southern European and MENA tech scenes[1][2][3][5].
Founded in 2016 by Apostolos Apostolakis and George Dimopoulos, both experienced entrepreneurs and angel investors, VentureFriends emerged from their firsthand understanding of startup challenges. Apostolakis co-founded Greece’s first e-tailer, e-shop.gr, and later e-food, a food delivery marketplace that was acquired by Delivery Hero in 2015, marking a significant exit for the Greek startup ecosystem. Both founders were early investors in Taxibeat, which sold to Daimler in 2017. Their entrepreneurial background shaped VentureFriends’ founder-friendly philosophy and focus on seed-stage investments with global ambitions. The firm has evolved from a €20 million initial fund to managing about €170 million today, expanding its geographic focus beyond Greece to Europe and MENA[1][4][6].
VentureFriends is riding the wave of increasing venture capital interest in Southern Europe and MENA, regions historically underserved by large VC funds. The timing aligns with a growing number of ambitious tech founders and improving startup ecosystems in these markets. By focusing on early-stage investments in scalable software startups, VentureFriends leverages market forces such as digital transformation, e-commerce growth, and SaaS adoption. Their active involvement and network help bridge local startups to global opportunities, thus accelerating ecosystem development and attracting further capital into these regions[1][2][6].
Looking ahead, VentureFriends is poised to continue expanding its fund size and geographic reach, potentially increasing its influence across Europe, MENA, and possibly Latin America. Trends such as AI integration in SaaS, digital marketplaces, and on-demand services will likely shape their investment focus. Their founder-friendly, hands-on model and strong operational support position them well to nurture startups through challenging growth phases. As Southern Europe and MENA ecosystems mature, VentureFriends’ role as a key early-stage investor and ecosystem builder is expected to deepen, reinforcing their mission to back ambitious founders with global ambitions[3][7].
Key people at VentureFriends.
