Venture capital funds in Hungary invested a joint HUF 4.4 bln in Q1 this year; a figure that reveals a year-on-year increase of 56%, the Hungarian Venture Capital Association (HVCA) reported today.
Data from the report suggest that approximately 40% of investments were in business and industrial services, some 18% in consumer products manufacturing and trade while the computer and consumer electronics branch saw an investment of 16%.
HVCA said that venture capital funds closed 26 transactions in Q1, and also saw two exits, though these were only worth a combined HUF 70 mln. The transactions varied in size between a few million forints to HUF 767 mln, the report added.
HVCA noted that a HUF 95 bln private capital transaction also took place in Q1, when Pamplona Capital Management bought Budapest-based Partner in Pet Food, one of Europeʼs largest manufacturers of house brand pet food.