Brain Gain Fund by Metavallon VC

A new €5 million pre-seed fund is aiming to transform Greece into a global hub for deep-tech innovation. The Brain Gain Fund, managed by Metavallon VC, will invest in early-stage deep-tech and life sciences startups, whether founded abroad or spun out of Greek universities, provided they commit to building R&D or product teams in Greece.

The fund is led by Demetris Iacovides, who brings over seven years of experience investing in deep-tech startups within Greece. Investment checks will range from €200,000 to €400,000, backed by a mix of international investors and the Hellenic Development Bank of Investments (HDBI), which manages over €2.1 billion in assets.

The fund’s name reflects Greece’s brain drain following the 2009 financial crisis, during which over 600,000 highly skilled professionals left the country. However, recent economic stability, R&D tax incentives, and a growing tech ecosystem are encouraging talent to return or to build innovative teams locally.

The fund leverages Metavallon VC’s track record of €68 million under management, which includes successful exits such as Think Silicon, Seervision, and Purposeful. Brain Gain also partners with local accelerators and incubators including Orange Grove and SDG House Greece to identify promising early-stage teams.

Founders worldwide are invited to connect through weekly office hours or directly via email: [email protected]
Office Hours: Every Wednesday at 12 PM EET by appointment

The Brain Gain Fund is more than capital. It is a strategic initiative to position Greece as a modern tech production hub, attracting both Greek returnees and international deep-tech teams to innovate locally while competing globally.

About Metavallon VC

Metavallon VC specializes in funding technology startups at the Pre-Seed to Seed+ stages, supporting ambitious entrepreneurs in building transformative businesses across multiple sectors and geographies. With over €70 million in capital under management, Metavallon VC has invested in more than 35 startups since 2018. The fund is supported by EquiFund, a joint initiative of the European Investment Fund (EIF) and the Hellenic Republic, as well as HDBI (Hellenic Development Bank of Investments), drawing capital from both public and private investors.