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Exploring the Greek Tech Boom: Marathon VC’s €75M Milestone

Marathon Venture Capital in Athens has secured a new €75 million fund, enhancing its total assets under management to €175 million. This achievement underscores significant exits like Augmenta’s $110 million valuation sale. Meanwhile, Hack the Box was partially sold to Carlyle, highlighting Marathon’s successful investment strategies.

Examining the Rise of Greek Tech Innovation

Greece’s tech scene is heating up, with Marathon VC at the forefront. Factors like emerging tech trends, including AI and robotics, have contributed to their growing success and ability to raise substantial funds even amid today’s challenging global landscape.

Navigating International Markets

Despite Greek startups traditionally focusing domestically, Marathon’s portfolio thrives by exporting services globally—a strategy resonating with major corporations like those in Fortune 500.

Adapting to Global Economic Challenges

The global challenge of fewer IPOs and extended venture holding periods hasn’t fazed Marathon. By keeping fund sizes manageable and maintaining substantial equity, they create a profitable ecosystem through strategic M&As and secondary sales.

The Future for Marathon and Greek Startups

Marathon VC remains committed to capturing unique market opportunities, championing sectors that historically received less attention from other European VCs.

Call for Reform: Cyprus Faces New Challenges with Emerging Tobacco Products

In the face of a burgeoning variety of tobacco products, existing smoking laws in Cyprus are struggling to keep pace, as highlighted by Christos Minas, the president of the Cyprus National Addictions Authority (AAEK). On World No-Tobacco Day, there was a push for legislative reforms to comprehensively cover all tobacco forms, including non-nicotine alternatives.

Addressing Rising Trends with Effective Policies

Minas emphasized the surge in popularity of e-cigarettes and flavored products, particularly among the youth. The proposed legal updates aim to enhance enforcement efficiency against these emerging trends.

In collaboration with the World Health Organization’s (WHO) framework, the AAEK has established the first set of national guidelines for smoking cessation in Cyprus, crafting prevention and treatment strategies based on robust scientific evidence.

Educating Youth and Public Awareness Initiatives

Efforts are underway to raise awareness, with informative materials distributed to secondary schools across Cyprus. A public event in Nicosia highlighted the state’s ongoing commitment, providing carbon monoxide testing and expert advice on new tobacco products.

Recent data from the Cyprus general population survey 2023 indicates that 38% of smokers have used e-cigarettes recently, and the smoking initiation age remains at 18.

A Glimpse into Youth Smoking Patterns

According to the latest European school survey, 14% of Cypriot students aged 15-16 reported smoking traditional cigarettes last month. Although this rate is declining, Cyprus still ranks high in Europe for e-cigarette and hookah use among students.

The concern is global, with WHO reports showing over 37 million children aged 13-15 engage in tobacco use, driven by aggressive marketing in loosely regulated environments.

The urgency for reform is clear: before these trends solidify, proactive measures are necessary to protect future generations from potentially hazardous habits.

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