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Hiventures among most active investment funds

Hungarian state-owned venture capital investment fund Hiventures has not only closed a successful year, but has been ranked by two independent international institutions - Crunchbase and Dow Jones - among the top most active investors.

In 2017, the first year of its operation, Hiventures received 1,000 applications for funds, which resulted in 131 investments worth a total of HUF 10.2 billion, of which HUF 6.1 bln came from EU funds, says a press release sent to the Budapest Business Journal.

The impetus is continuing in 2018: Hiventures has already received 190 applications in the first quarter, resulting in 36 investments worth HUF 2.6 bln, half of which came from EU funds.

Based on these results, Dow Jones has placed Hiventures in first place among European investors, while startup database Crunchbase has ranked Hiventures third in the most active seed investor category.

Hiventures sees these results as sustainable, considering the investment forecast of HUF 6.8 bln for this year, which means more than 180 targeted projects, the company says.