Greece is getting in the centre of Circular Economy with the launch of the first Green Fund
Sporos Platform, the first Green Circular Fund to launch officially in Greece with €21million via the Green Greek Funds call supported by the Hellenic Development Bank of Investments (HDBI) putting Greece in the center of Circular Economy and of Impact Investing.
Chairman of the Investment Committee Goerge Kofinakos said that Sporos’ main focus, with its €30 to €60 million fund, is on small to medium businesses of Clean energy, Bio-economy and of Industrial Coexistence while offering flexible quasi-equity tools for a more dynamic funding and specialized consulting.
Sporos and the partnership with Kapa Research developed the specified investment strategy that relies on findings of the standard nationwide Market Survey on the dynamics of cyclical investments. CIO and CSO of Sporos Gerasimos Routzounis also stated that the results of the servey confirm an important investment gap in market and the need for the businesses’ circular dynamic to be used, especially in industrial processes food and agro tech. He also stated that
“a sustainable development future will be achieved through the Districts emphasizing on smart specialization strategies”.
Sporos lies in the final phase of fundraising aiming to start their first investments in the last quarter of 2021 partnering with Dimitris Simos and Alexandros Karidis-Karandreas, bringing their valuable experience of sustainable finance, innovation and energy as well as business services. Vice president of European Bank of Investments and Professor at Athens University of Economics and Business Plutarchos Sakellaris who also joined as chairman of Committee on Risk Management and Regulatory Compliance of Sporos said that the new Action Plan of the Committee for Circular Economy and the European Green Agreement as well as 38% of resources heading to a green transition are predicting a more fertile future for Sporos.
Our CEO, Lefteris Kontos which is the Director of Investor Relations & Dealflow at Sporos also added that the participation of an important Hellenic Bank has already been closed with a listed Swiss Fund that specializes in ESG investments and particular interest in the Greek market is to also participate. As he stated “ we estimate that we will significantly exceed the initial goal of €30 million”.
Among Sporos’s innovations are the emphasis on the so-called “non-financial indicators” to measure the positive impact and the strategic role of Circular Board to accelerate the transition.
Professor Phoebe Kountouris and president of Sporos Circular Board said that “Sporos applies a “total value” methodology” as well as “turning to the Circular Economy means 700,000 new jobs across Europe, a 600 billion reduction in business costs and 450m. tons of less carbon emissions by 2030”.
Source: Proto Thema “Πράσινο φως για τον “Σπόρο” της Κυκλικής Οικονομίας” [Green light for the “Seed” of the Circular Economy], 22/04/2021