Dubai: Abu Dhabi's ADQ has entered an agreement to channel 4 billion euros into Greece's economy. This will be done through partnerships witn the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of Investments (HDBI), the country's Sovereign Fund-of-Funds.
The agreement will drive significant investor interest in Greece. The three parties will invest individually and jointly, across target sectors, including renewables, infrastructure, agriculture, technology, healthcare and life sciences, among others.
“With its proven track record in establishing robust and tangible sovereign investment partnerships, ADQ is a natural partner that will contribute to achieving our economic growth,” said Ioannis Tsakiris, Deputy Minister for Development & Investments.
Athina Chatzipetrou, Chairwoman and CEO of the Hellenic Development Bank (HDB), said: “Deepening the economic ties between our countries will create a robust Mediterranean-Middle East commercial corridor raising the level of our business relationship and unlocking the potential for large-scale investments in Greece.”
Meanwhile, the Mubadala Investment Company and Hellenic Development Bank of Investments will extend their 400 million euro co-investment partnership to include venture capital and private equity investments in top-performing Greek funds.
The Mubadala-HDBI co-investment partnership was first established in 2018 with an initial focus on minority direct PE investments in Greek businesses.
Mubadala and HDBI closed their first co-investment under the newly extended agreement with Athens-based VentureFriends Fund III, an early-stage tech investor.
"Our extended partnership with HDBI will enable Mubadala to accelerate its investments in Greece, capitalizing on an increasingly active innovation and entrepreneurial landscape across multiple sectors,” said Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO. “We look forward to our continued collaboration with HDBI in the months and years ahead as we collectively seek to tap into Greece’s burgeoning innovation-driven sectors.”