Marathon Venture Capital

Marathon Venture Capital was founded in 2017 by George Tziralis and Panos Papadopoulos (co-founder of BugSense, acquired by Splunk) in Athens to back ambitious Greek and diaspora founders building global technology companies. Fund I reached €32M and Fund II expanded to €70M; Fund III closed at €75M in May 2025 (with €20M from EIF), bringing total AUM to approximately €175M. The fund leads seed rounds of €500K–€1M in sectors including cybersecurity, AI, defense tech, robotics, and energy. Notable portfolio companies include Hack The Box (cybersecurity training, $55M Series B led by Carlyle) and Augmenta (precision agriculture robotics, acquired by CNH Industrial for $110M).