Hungarian venture capital firm to invest HUF 1 bln in China

Sights

Hungarian-owned GB & Partners will invest almost HUF 1 bln through a capital raise in Budapest-based EPS Global, a company working on smart parking solutions with Chinese multinational telecom company ZTE Corporation - according to a statement from EPS Global, GB & Partners and i-Cell, the majority owner of EPS, to Hungarian news agency MTI Wednesday.

GB & Partners will carry out the capital raise using funds from Exim Exportösztönző Magántőkealap, one of the state-owned Eximbankʼs two private equity funds, through a company jointly owned by i-Cell. 

The statement said EPS Global wants to obtain the right to operate at least 100,000 parking places in China in the coming years through the company jointly owned with ZTE.

ZTE-EPS has already signed the contract to establish and operate a smart parking system for 10,000 parking places in the city of Yangchun under a 20-year concession.

GB & Partners manages four funds to a value of EUR 81 million.

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya Analysis

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.