Greece is committing €120 million to a major European investment initiative aimed at financing future technologies and helping promising companies grow into global industry leaders.

The investment will be channelled into a joint fund under the European Tech Champions Initiative (ETCI), backed by the European Investment Bank (EIB) Group, as part of a wider effort to strengthen Europe’s competitiveness, innovation ecosystem and technological independence.

The initiative brings together Greece, the EIB Group, major institutional investors and other European Union member states to channel more than €10 billion into new equity investments in fast-growing European businesses.

The broader alliance of public and private investors aims to mobilise up to €80 billion in total investment, with an average investment of €200 million, helping European technology companies expand internationally.

Greece among six countries in first funding round

Greece is one of six countries participating in the first closing of the joint investment fund, alongside Bulgaria, Germany, Luxembourg, the Netherlands and Spain.

Together with the EIB Group, these countries have secured approximately €2 billion in capital commitments for the Tech Champions fund-of-funds, which invests in other investment funds rather than directly in individual companies.

The first investment approvals are expected within the coming weeks.

Meanwhile, major institutional investors and France’s Tibi initiative have expressed their intention to channel more than €8 billion into Europe’s innovation ecosystem and high-growth companies. Additional investors are expected to join the alliance shortly.

Greece’s €120 million contribution will be financed through the country’s regular state budget and forms part of the government’s strategy to promote innovation, attract investment and create new opportunities for Greek businesses.

Pierrakakis: Europe’s next major competitive battle will be fought in technology

Greek Minister of National Economy and Finance and Eurogroup President Kyriakos Pierrakakis described the country’s participation as a strategic investment in the future of both the Greek and European economies.

“The next major battle for European competitiveness will be fought in technology. Europe has outstanding scientists, a strong research base and innovative businesses. The great challenge is to turn this potential into companies with a global reach that can compete for leadership in international markets,” he said.

“Greece’s participation with €120 million in the European Tech Champions Initiative represents a strategic investment in the future of the Greek and European economies.

“We are strengthening innovative companies’ access to investment capital and contributing to the creation of the next generation of European technology champions.

“Greece is participating with concrete resources and high ambitions. In the global technology race, those who dare to invest early will have the advantage.”

EIB vice-president: Keeping European expertise and value within Europe

European Investment Bank Vice-President Yannis Tsakiris emphasised the importance of ensuring that European companies can secure the financing they need to expand without relocating their activities or expertise outside the continent.

“Europe’s technological strength depends on its ability to finance the growth of its companies and retain the expertise and value they create here, within its borders,” he said.

“By expanding the European Tech Champions Initiative, the EIB Group is strengthening Europe’s growth capital market so that more companies can achieve the scale required to compete internationally.

“Greece’s participation is an important investment decision with a long-term impact on growth. It connects the development of the Greek innovation ecosystem with a European strategy capable of transforming scientific excellence into productive strength and strengthening the country’s position in international value chains.”

More than 50 European companies supported since 2023

The European Tech Champions Initiative was launched in 2023 by the EIB Group and six EU member states.

Since then, it has supported 15 major venture capital funds investing in innovative, rapidly expanding businesses.

Through these funds, more than 50 EU-based companies have received backing, including 16 that have achieved valuations exceeding €1 billion.

The expanded initiative received unanimous support from all EU member states in July 2026. More countries are expected to contribute to the joint investment fund once their respective national procedures have been completed.

The alliance will complement existing national and European programmes, including France’s Tibi initiative, Germany’s WIN initiative and the European Commission’s Scaleup Europe Fund.

Together, these programmes are intended to give leading technology businesses access to large-scale financing, enabling them to expand while maintaining a strong operational base in Europe.

The wider objectives include improving productivity, encouraging economic growth and strengthening Europe’s strategic autonomy.

Supporting Europe’s investment and technological independence

The European Institutional Investors Pact, jointly launched by the European Commission and the EIB Group, is also designed to facilitate institutional investment in European businesses.

Through an investment platform led by the EIB Group, institutional investors will gain easier access to opportunities offered by investment funds.

The pact will also promote dialogue on developments in the regulatory framework through a dedicated forum led by the European Commission.

The initiative forms part of the EU’s wider effort to strengthen competitiveness and economic resilience, advance the Savings and Investments Union and safeguard Europe’s technological autonomy.

For Greece, the €120 million commitment represents an opportunity to play an active role in a strategically important European initiative.

It could also expand access to financing for Greek innovative businesses, strengthen their international presence and contribute to new investment opportunities and the creation of highly skilled jobs.