Marathon Venture Capital
Greek early-stage venture capital firm.
Marathon Venture Capital is an Athens, Greece-based seed-stage venture capital firm co-founded in 2017 by George Tziralis and Panos Papadopoulos, backing Greek and broader European founders. The firm closed its third fund at €75M in May 2025, with the European Investment Fund and the Hellenic Development Bank of Investment as anchor LPs. Marathon invests across climate, health, security, infrastructure, and AI, with a ~24-company portfolio including Causaly, Hack The Box, Delian Alliance Industries, and Velos Rotors; portfolio company Augmenta was acquired by CNH Industrial for $110M in 2023.
Overview
- Firm
- Marathon Venture Capital
- Headquarters
- Athens, Greece
- Founded
- 2017
- AUM
- Undisclosed
- Stages
- Pre-Seed, Seed
- Thesis
- Backing ambitious early-stage founders building global technology companies out of Greece.
Portfolio companies2
Partners2
Frequently asked
- What is Marathon Venture Capital?
- Backing ambitious early-stage founders building global technology companies out of Greece.
- What stages does Marathon Venture Capital invest at?
- Marathon Venture Capital invests at Pre-Seed, Seed.
Sources & citations3
Each claim links to its underlying source. Confidence reflects how directly the source supports the claim.
- 1
Marathon Venture Capital was founded in 2017 by George Tziralis and Panos Papadopoulos.
Marathon Venture Capital: Introducing Marathon Venture CapitalVerified2017-03-21 - 2
Marathon closed a €75M Fund III in May 2025; portfolio includes Causaly, Hack The Box, Delian Alliance Industries, Velos Rotors; Augmenta acquired by CNH Industrial for $110M.
Marathon Venture Capital: Marathon Venture Capital's Fund II/III coverageReported2025-01-01 - 3
Marathon Venture Capital's third fund closed at €75M in an oversubscribed single closing (May 2025), with the EIF committing €20M under InvestEU and the Hellenic Development Bank of Investment also contributing €20M.
Venture Capital Journal: Greece's Marathon Venture Capital wraps third fund at €75mVerified2026-08-06