The Venture Codex Logo

The Venture Codex

Phaistos Investment Fund

100 Kifisias Avenue & 83 Marathonodromou Street, Marousi, Attiki, 15125, Greece

Overview

5G Ventures Société Anonyme (“5G Ventures SA”) has been established pursuant to Article 93 of Law n. 4727/2020 (Government Gazette A’ 184) and is a direct subsidiary of the Hellenic Corporation of Assets and Participations (HCAP SA). The purpose of 5G Ventures SA is the establishment and management of Phaistos Investment Fund, pursuant to the provisions of Article 7 of Law n. 2992/2002 (Government Gazette A’ 54), according to prevailing market conditions and with guarantees for full transparency and accountability, and complying with International Financial Reporting Standards (IFRS). Phaistos Investment Fund has been established pursuant to Article 94 of Law n. 4727/2020 (Government Gazette A’ 184). Its exclusive objective is the investment in businesses that are actively involved in 5G-related research and/or development of products and/or services in Greece, in sectors such as transport and logistics, manufacturing, public goods and utilities, health, tourism, information and media. Private and professional investors may participate in Phaistos Investment Fund. Phaistos Investment Fund operates according to Article 7 of Law n. 2992/2002 (Government Gazette A’ 54).

Total investments
4
Lead investments
1
Investments · 12mo
1
Active investors
4

Sector focus

  • Financial Services
  • FinTech
  • Health Care
  • Health Diagnostics
  • Information and Communications Technology (ICT)
  • Logistics
  • Manufacturing
  • Media and Entertainment
Visit website

Investment portfolio

  • Movandi

    Participated · Equity · Oct 2025

    Movandi is a connectivity‐focused semiconductor and systems company whose portfolio spans RF chipsets, beamforming silicon, phased-array antennas, and software-defined networking. Its technology underpins high-throughput, low-power, and intelligently steered wireless links for 5G networks, fixed wireless access, and non-terrestrial (LEO satellite) communications. With more than 115 issued patents, the firm has already deployed mmWave solutions that improve the economics and performance of commercial 5G roll-outs. The company now aims to translate this edge into satellite broadband and hybrid fixed-wireless deployments, addressing range, cost and latency constraints faced by operators. Future plans include opening an Oman office to tap regional talent and co-develop solutions aligned with Oman’s Vision 2040 initiative. Headquartered in Irvine, California, Movandi positions itself as a bridge between Silicon Valley innovation and Middle-East market expansion. The latest capital injection strengthens its ability to scale production, broaden its product roadmap, and pursue global market entry opportunities.

  • EdgeQ

    Participated · Equity · Apr 2023

    EdgeQ develops a "Base Station-on-a-Chip" that converges 4G and 5G with on‑chip AI and provides a production-grade PHY for O-RAN Distributed Units and small cells. Its massively integrated 4G+5G+AI chip leverages RISC-V and ARM architectures to compress a rack of base station equipment into a small, power-efficient package. The platform is multi-mode and software-upgradeable, intended to enable wholesale upgrades without ripping and replacing existing network configurations and to reduce vendor lock-in. EdgeQ states the solution is available now and that customer deployments are expected this year. The company plans to use the new funding to ramp production to meet customer demand and to develop its next-generation chip. EdgeQ is headquartered in Santa Clara, CA, with offices in San Diego and Bangalore and is led by executives from Qualcomm, Intel, and Broadcom. EdgeQ is building a systems‑on‑a‑chip that integrates 5G connectivity and on‑board AI while operating within a tight power envelope and remaining reprogrammable. The product is still under development and the company has not disclosed full technical details. Founding CEO Vinay Ravuri and other senior engineers previously worked at Qualcomm, Intel and Broadcom. EdgeQ envisions applications such as security cameras, drones, and robotic machinery that need synchronized wireless communication, local compute, and precise location. The company has offices in Santa Clara, San Diego and Bangalore, India. To date EdgeQ has raised $51 million across a seed and Series A to fund continued product development and commercialization efforts.

  • Safesize

    Participated · Series B · Apr 2023

    SafeSize provides AI-powered fitting technology that matches consumers’ 3D foot data and personal preferences with a shoe database to deliver personalized shoe recommendations in seconds. Its proprietary solution is deployed with large footwear retailers including INTERSPORT, Decathlon, Sports Direct, HOKA, New Balance, Skechers, Super Sports Xebio, CCC and Marks & Spencer. The company operates offices in the Netherlands, Slovenia, Greece, China and recently expanded in Australia and New Zealand, and runs nine shoe scanning facilities that scan and analyze more than 1.5 million shoes annually. SafeSize plans to use new funding to expand internationally—targeting new markets such as the US—and to accelerate growth in the APAC region. It also intends to further invest in technology innovation and broaden its product offering. The company is headquartered in Athens, Greece. SafeSize builds 3D foot scanning systems and fitting algorithms paired with a large database of previously 3D scanned shoes to recommend correctly sized footwear. Its solution is used by more than 2,000 shoe retailers and brands. The company says it has analysed over 13 million consumers and one million shoes to date. SafeSize aims to match shoppers with the perfect pair of shoes quickly for both online and offline channels. The startup recently raised €10 million in a Series B round to support growth. It plans to use the capital to attract new talent, accelerate product innovation and enter new markets.

  • OQ TECHNOLOGY

    Led · Series A · Sep 2022

    Founded in 2019, OQ Technology develops and operates a sovereign constellation of software-defined multiband satellites working in the S and C bands. Its network is designed to provide affordable, reliable 3GPP-compliant NB-IoT and 5G NR NTN coverage to smartphones and cellular IoT devices, with special focus on rural and remote regions not reached by terrestrial networks. The company was the first worldwide to demonstrate a cellular IoT connection from space and targets becoming the first European satellite operator to transmit emergency D2D messages to unmodified smartphones by 2025. OQ plans to launch more than twenty additional satellites to expand service availability and offer commercial 5G D2D connectivity in Europe. The business strategy hinges on leveraging standardized technology to enable seamless integration with existing mobile ecosystems. Its current financing includes a €25 million venture loan from the European Investment Bank, providing capital to accelerate R&D and satellite deployment.

Team

  • Antonis Tzortzakakis

    Chief Executive Officer

    LinkedIn
  • Salvator Levis

    Executive Member of the Board of Directors

    LinkedIn
  • Nikos Karapanagou

    Executive Member of the Board of Directors

    LinkedIn
  • Akis Markatos

    Executive Member of the Board of Directors

    LinkedIn