Mubadala and Taneo will target investment opportunities with high-growth potential operating across the Greek economy.
Mubadala Investment Company (Mubadala), Abu Dhabi’s strategic investment group and Greece’s New Economy Development Fund (Taneo), a fund of funds investing in Greek venture capital funds, has signed an MoU with to create a EUR 400 million co-investment platform which will target compelling investment opportunities found in key sectors of Greece’s economy.
Under the terms of the MoU, Taneo and Mubadala will each contribute EUR 200 million to the new co-investment platform, which will capitalise on resilient businesses with growth potential across key sectors of Greece’s economy. The two organisations will also share knowledge, further enhancing Greece’s strong diplomatic and trade relations with the UAE.
Established in 2001 by the Greek government, Taneo is a principal investment firm specialising in fund of funds investments. The firm invests in venture capital funds which specialise in start-up, early, and expansion stage investments, in particular, Greek SMEs operating in telecommunications, IT, e-commerce, biotechnology, and new materials. To date, Taneo, which is now co-funded by the Greek government and institutional investors, has indirect investments in approximately 50 companies through over 10 venture capital funds.