Elikonos closes third Greek private equity fund at €224 million

Elikonos Capital closed its third Greek private equity fund at €224 million, €44 million above the €180 million target it set at launch, the manager announced.

The final close of Elikonos 3 S.C.A. SICAV-RAIF came after a €175 million first close in October 2025 and a €200 million second close, according to HedgeCo News, which cited Dealroom for the original target. The fund is classified under Article 8 of the EU's Sustainable Finance Disclosure Regulation.

A wealth allocator wanting Greek SME exposure through this fund would need to ask whether a feeder or secondary purchase is available. The European Investment Fund, the European Bank for Reconstruction and Development, the Black Sea Trade and Development Bank and the Hellenic Development Bank of Investments committed to the fund, alongside Greek banks, insurers, pension funds and private investors from Greece and abroad.

Elikonos 3 targets Greek small and medium-sized enterprises and small mid-caps in growth sectors, with an emphasis on expansion and exports. It has already made six investments, with about €60 million committed across agrifood, food manufacturing and building materials, in Mytilos, Ribco, Vamvalis Foods, Akritas, To Manna – Tsatsaronakis and Vezyroglou. Roughly €164 million of the €224 million is not allocated to the six deals named.