Alter Ego Media launches 10-million-euro venture company focusing on tech innovation

Alter Ego Ventures, a member of the Alter Ego Media group, launched on Thursday as a corporate venture capital company investing mainly in technology companies.
The company will have a starting budget of 10 million euros.
In a statement, Alter Ego Ventures said "investments will be focused on startups and existing companies that innovate and have a high growth potential. Besides investment capital, Alter Ego Ventures will provide promotion through Alter Ego Media and technical know-how in enterpreneurship." Its sectors of interest include artificial intelligence and automation processes, data analytics tools, and digital solutions for current needs of the market.
The aim of the new scheme is to diversify the Group's portfolio and provide access to new technologies as well as entry to new markets, according to the statement. Its investment will invest in several ways in companies: cash equity participation, provision of common or convertible bond loans, and promotion and advertising in exchange for equity or revenue on sales.
Commenting on the initiative, Alter Ego Media General Manager of Strategy, Development & Technology Giorgos Saliaris-Fasseas said that Alter Ego Ventures is interested in helping the development of ideas by "entrepreneurs who dare to implement change and to redefine entire sectors, influencing the manner in which people live and interact."
Alter Ego Media is the largest mass media group in Greece, including in its portfolio Mega TV, the news outlets To Vima, Ta Nea, Ikonomikos Tachydromos, and the in.gr digital portal, among others.