“Launch a new Fund of Funds investment vehicle starting with €50m public investment”
The New Economy Development Fund S.A. (“TANEO”) on behalf of the Greek Ministry of Digital Policy, Telecommunications and Media is about to launch a new Fund of Funds investment vehicle starting with €50m public investment.
The Fund will participate in Venture Capital schemes with investment focus on Greek Small and Medium sized enterprises active in the fields of film, content and video games creation in Greece.
TANEO and the Ministry of Digital Policy, Telecommunications and Media hereby invite the members of the global investment community for expression of interest.
This invitation is addressed to all investors and investment managers interested in establishing Greek Venture Capital Companies or Venture Capital Mutual Funds or any other venture capital form operating in accordance to the laws of a European Union member state, with the purpose of co-investing along with TANEO in Greek Small and Medium sized enterprises.
The investment vehicles should be managed by independent private legal entities and shall invest, via equity participations and/or quasi equity financial instruments, in Startups, Small and Medium sized enterprises, the business scope of which is to produce, co-produce and disseminate audiovisual content. The appropriateness of the managers, the reliability of the business proposals and their attribution to the Greek Economy development will constitute the critical factors for the selection of intermediaries.
Greece has recently taken decisive steps in attracting international film, television, documentary, animation and video gaming producers by imposing among others new cash rebate scheme of 35%. The rebate is flexible, it has no cap, it is secured funded by the Greek Public Investment Programme that amounts to €450m for the period up to 2022.
Applications are submitted all year long to an electronic system guaranteeing smooth, timely and transparent processing. The rebate is payable no later than six months after the completion of the shooting process in Greece. TANEO will accept meeting requests for the provision of further information until 10/12/2018.
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