Dolphin Venture Fund I, a seed fund organised under the laws of Delaware, is raising up to USD100m to seed fund start-ups and early stage ventures in Greece, the US, and the Philippines.
The fund has over USD12m in investor commitments. Investors are expecting an annual ROI of 34 per cent, but based on the progress made by some hedge funds in Greece, Dolphin Venture Fund believes the number could be much higher.
The company has about a dozen start-ups and ongoing companies in its portfolio, notably a start-up in the Philippines, called Pakwan Intl that creates call centres and has several purchase orders in place. A US company, Tamion Corporation, primarily a lead generation company, has contracts in place that will generate over USD6m in revenues for the company in 2014.
"We have to create seed opportunities in order to jump start the economy," says fund manager Tom Psillas.
