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.
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