The CEO and General Partner of Loggerhead Ventures, Evangelos Kosmidis, Reveals the Key to Startup Success
Loggerhead Ventures is a mission-driven venture capital fund based in Thessaloniki. Founded in 2023, it manages a €10 million investment vehicle and focuses on early-stage companies, typically investing between €300,000 and €1 million in technology startups. The fund places particular emphasis on climate technologies that contribute to the sustainable transformation of the economy.
Interview by Giorgos Katsianis
1. Mr. Kosmidis, what led you to establish a fund that invests in technology companies?
The decision to establish Loggerhead Ventures stemmed from a clear observation. Greece has strong technological talent, yet the transition from an idea or a promising product to a sustainable business of meaningful scale remains limited. Many innovative ideas do not fail because of their quality, but because they lack the right strategic framework and capital to evolve into viable companies.
From the outset, we chose to focus on climate tech, not as a passing trend but as a technology-driven sector with measurable economic and social impact. Today it is clear that investments in this field are closely connected to the energy transition, infrastructure resilience, and the broader modernization of the productive base of the economy.
Our decision to base the fund in Thessaloniki was not accidental. We believe that regional ecosystems can develop into meaningful innovation hubs when technology is connected to real market opportunities and the ability to scale.
2. What characteristics must a startup have for you to consider investing?
Because we invest in early-stage companies, our primary criterion is not financial metrics but people. At this stage, the product and strategy will inevitably evolve, but the founding team remains the stable core. We first look at the founders’ commitment and whether they are fully dedicated to the venture. In early-stage investing, you are not investing in a project but in people who can endure uncertainty and remain focused even when conditions become difficult.
At the same time, we place great importance on the complementarity of the team and the balance of skills between technology, product development, and commercial thinking. A strong technical team that cannot translate its solution into sales will struggle to scale, just as a commercially oriented team without technological depth will face limitations.
We also assess whether founders are open to guidance and adaptation, because in the early stages no one has all the answers. Finally, we evaluate whether the technology itself has a meaningful competitive advantage and whether the founding team is deeply involved in its development. We also look at the basic organizational structure of the company — for example a clear cap table and well-defined roles.
Overall, we seek teams capable of transforming technological knowledge into commercial value with international potential.
3. Do you invest only in Greek startups, or also in companies abroad?
Our investment strategy focuses on companies that are either based in Greece or maintain substantial operational activity in the country. Our goal is to strengthen the domestic technological and productive base by supporting companies that grow internationally while maintaining a strong footprint in Greece.
When the local ecosystem becomes stronger, the benefits extend beyond individual companies. Knowledge, experience, and talent accumulate over time. Professionals who work within a successful startup gain expertise, international exposure, and entrepreneurial confidence, and many of them later go on to create companies of their own. In this way, a continuous transfer of knowledge and experience takes place, improving the overall quality and maturity of the market.
At the same time, we operate with an international outlook. We collaborate with co-investors and networks abroad, and we actively support our portfolio companies in expanding into foreign markets. For us, Greece is not a limitation — it is a starting point.
4. What is the most important factor for a startup to successfully enter the market?
The most critical factor is the ability to translate technology into commercial value. A technically sound product or even a successful pilot project does not necessarily mean that a company has truly entered the market.
A startup reaches that point when it clearly understands who its customer is, what problem it solves, and manages to generate repeatable revenue. The decisive element is a clear and disciplined go-to-market strategy, supported by a strong value proposition, realistic pricing, and a deep understanding of the sales cycle.
In many cases the challenge is not technological but commercial. Initial funding alone is not sufficient if it is not accompanied by structured sales efforts and steady growth. A startup has truly entered the market when it demonstrates that it can sell consistently.
5. What goals has Loggerhead Ventures set for this year?
For 2026, our main objective is the further maturation of our investment portfolio, supporting our companies in achieving recurring revenues and progressing to their next funding rounds. Scaling and international positioning are key priorities.
At the same time, we continue to evaluate selective new investments in climate technologies that contribute to the sustainable transition of the economy and the strengthening of the country’s productive base, with an emphasis on quality and long-term resilience.
At the ecosystem level, we aim to contribute to the next phase of development for Thessaloniki, helping the city move into a stage of meaningful scaling. In this context, we are preparing new collaborative initiatives designed to strengthen connections between founders, investors, and institutional stakeholders in the city.
Originally published in the print edition of Karfitsa (28 February 2026).
