Big Pi Ventures has launched Big Pi Growth I, the first dedicated tech growth equity fund out of Greece and Southeast Europe. The fund reached a €130 million first close in June and is targeting €200 million for its final close.
The new vehicle will invest between €7 million and €20 million+ per company as lead investor, combining capital with operational support. Its mandate is to bridge Europe’s scale-up funding gap by helping high-growth businesses expand internationally or establish major operational hubs in Greece and the wider region.
“Big Pi Growth I is designed to help European tech scale-ups transition from promising regional players to global leaders” ~ Marco Veremis, co-founder of Big Pi.
The fund has already made its first investment in Numan, a UK-based digital healthcare platform. It follows Big Pi’s earlier funds, including a €48 million early-stage vehicle that backed 23 companies and saw successful exits such as Accusonus, acquired by Meta.
Led by partners Marco Veremis, Panos Metsis, and Nick Kalliagkopoulos, Big Pi has become the largest multi-stage tech investor in Greece, with around €250 million in assets under management. Its team includes founders of scaleups such as Upstream and Persado, and veterans of both venture capital and academia.
The fund will focus on companies with strong intellectual property in AI, biotech, blockchain, and deep tech, with the requirement that portfolio companies maintain substantial operations in Greece. The cornerstone investor is the Hellenic Development Bank of Investments, through the RRF program “Greece 2.0.”
Big Pi’s launch comes as Greek startups raise record amounts, with $1.3 billion raised in 2024 and an estimated $5.7 billion in value generated by diaspora-founded companies. National programs like “Brain Gain” are also encouraging thousands of expatriates to return, creating fertile ground for scale-up growth.
“Technology and intellectual property must be core to the value proposition. That’s how we’ll create companies that compete globally while building a strong tech ecosystem in Greece.” ~ Guy Krief, partner at Big Pi and co-founder of Persado.
