[Greece] Athens-based Virtual Trip Group has announced plans to start an angel investment fund through its subsidiary Virtual Trip Holdings SA. It will be focused on ‘innovative startups’ from Greece and abroad, and will be the third angel investment fund in the country following OpenFund and Driin Ventures.
What we know so far is that they’ll target investments of between €50.000 to €200.000 for an equity stake of around 35-45%. And while it can certainly be argued that this may not represent the best available deal out there, if we take into account the financial difficulties Greece is facing, it’s an offer that many startups could find both useful and necessary in order to stay out of the deadpool.
Also of interest is the fact that VTrip claims to be offering incubation services to the selected startups. Specifically this is said to include dedicated office space, legal and financial services, a good internet connection and a shared meeting room. Vtrip says it has a 500 sq ft open space just for this purpose.
Sadly, it seems that they haven’t yet had the time to create a stand alone website just for this new venture, so feel free to drop them an email here requesting more info about how to apply for funding.