The European Investment Fund has invested in the SPOROS Platform, an impact investing fund focused on businesses working on the circular economy in Greece and other markets.
SPOROS has reached a final closing of €58 million under the EquiFund II initiative, according to the European Investment Fund (EIF), which is part of the European Investment Bank (EIB) Group.
The fund is described as Greece’s first “Article 9” SFDR impact fund — a category under the EU’s Sustainable Finance Disclosure Regulation used for funds that state they have a sustainable investment objective, the EIF said.
SPOROS will focus on industrial innovation, transforming production systems and improving resource efficiency, and will back companies developing “scalable solutions” to environmental challenges in Greece and South East Europe.
Funding and focus
The €58 million closing was completed under the Sustainability and Social Impact Window of EquiFund II, co-financed by the European Union through Greece’s 2021–2027 NSRF programme and the Competitiveness Programme, the EIF said.
Ioannis Tsakiris, an EIB Vice-President, said the investment would support Greece’s capacity to develop companies that combine environmental impact with economic competitiveness.
EIF chief executive Marjut Falkstedt stated the organisation was supporting SPOROS under EquiFund II as part of efforts linked to the circular economy in Greece.
SPOROS said it had already deployed capital across 14 investments headquartered in five European countries, including deals spanning six of Greece’s 13 administrative regions.
The fund invests in start-ups at Seed+ and Series A stages and in established small and medium-sized enterprises transforming their operations, SPOROS said.
