Marathon Venture Capital

Venture Capital·Athens, Greece·€170M+ AUM across three funds; Fund I €32M; Fund II €70M; Fund III €75M (2025)

Founded in 2017 in Athens, Marathon Venture Capital is a seed stage fund backing ambitious Greek and European founders building world class technology companies. The firm typically leads seed rounds with €1m+ cheques for 15–20% equity, with about half of investments originating internationally from across Europe and the US. Fund I is described as a top percentile performer globally in realised returns. Portfolio companies have attracted follow on capital from Bessemer, Bain, 83North, Insight, and Index. Notable investments include Causaly (AI for biomedical research), Hack The Box (cybersecurity training), Augmenta (agritech), and Lenses.io (exited). LPs include the EIF, EBRD, and HDBI.

Focus Areas

AICybersecurityIT InfrastructureAgritechDefence TechDeep TechClimate

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Portfolio

1 company in our directory

Delian

Hiring

Defence Tech·Series A

Delian Alliance Industries is a Greek and UK-based defence technology company building autonomous systems for NATO and allied forces. Founded by former Apple robotics engineer Dimitrios Kottas, the company takes a vertically integrated approach, developing hardware, sensor fusion, autonomy software, and strike platforms under one roof. Its products include the Lambda Autonomous Surveillance Tower (LAST), which uses video and thermal feeds to detect and track surface targets without GPS, and a pipeline of concealed sea drones. Originally launched as Lambda Automata, the company rebranded and has deployed solar-powered surveillance towers along Greek borders for security and wildfire detection. Delian is headquartered in London with offices in Athens and is positioning itself as a European defence prime for the autonomous warfare era.