Kazakhstan, Hungary Launch Joint Venture Capital Fund
Hungary's Széchenyi Funds and Kazakh-Singaporean venture capital company Steppe Capital signed a declaration on the establishment of a joint Kazakh-Hungarian venture capital fund in Budapest on Friday, according to a report by news agency MTI.
The fund will contain a USD 10 million private equity and a USD 10 mln venture capital component. The partners will have 50% stakes in the fund, but it will be managed solely by Széchenyi Funds.
The fund will target investments in both economies in technology, energy, farming, and life sciences.
Up to half of the fund could be invested in high-growth businesses in Kazakhstan.
ADVERTISEMENT
E-scooters More Popular Than Bikes at eMag
Parliament Negates Mandatory Membership in MOK
Civita Group Inaugurates HUF 2.5 bln Pasta Plant
Service Restarted on Full Length of Metro Line M3
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.
