Growthfund: New Investment Fund in Greece to Support Green Transition, Digitalization

Photo source: Growthfund

Growthfund, the national fund of Greece, has announced the establishment of a new dedicated fund aimed at investing in the country’s key economic sectors.

According to an announcement, the new fund will focus its investments on strategic sectors that strengthen Greece’s position as a leader in green transition and digitalization. These investments will primarily be made through minority stakes in corporate and infrastructure projects that contribute to Greece’s economic growth.

Operating as a subsidiary, the new investment fund will have its own governance, management, and investment capabilities. Growthfund notes that this initiative aligns with the legal framework supporting strategic investments in Greece, as outlined in the recent amendment to Law 4389/2016 (Article 203A-E) passed by the Greek parliament in late July.

“The time has come for Growthfund to transform based on international best practices and respond to the current prospects of the Greek economy, effectively implementing the recent law introduced by the Ministry of National Economy and Finance,” said Growthfund CEO Gregory D. Dimitriadis. “Through this new fund, Growthfund will reinforce its role as a catalyst for further national development.”

Photo source: Growthfund

Expected to launch in 2025, the new fund will have an initial budget of 303.5 million euros, sourced from the recent transfer back to the State of EYATH S.A. (Thessaloniki Water Supply and Sewage Company) and EYDAP S.A. (Athens Water Supply and Sewage Company), with consideration for alternative funding sources in the future.

As a result of an international tender, Growthfund has appointed BlackRock Financial Markets Advisory (BlackRock FMA) as an advisor to support the preparatory and implementation activities for the establishment and operation of this new investment fund.

“We are delighted to have been selected to advise Growthfund on this journey and to contribute to the establishment and success of this new investment fund dedicated to supporting key sectors of the Greek economy,” said BlackRock FMA Managing Director Matthias Wyrwoll.