Széchenyi Fund to invest HUF 70 bln up to 2022

Deals

The Széchenyi Venture Capital Fund (SZTA), an EU-supported investment fund established by the state to fund SMEs, will invest HUF 70 billion through its five units between 2019 and 2022, Imre V. Csuhaj, chairman-CEO of the fundʼs manager, said at a press conference on Tuesday.   

Csuhaj said the SZTA made 111 investments between 2012 and 2018, exiting 33 investments with net profits, making losses with two investments, and holding onto minority stakes in 70 SMEs. In six exits the performance evaluation is still underway, he added.

Last year the SZTA invested in 47 companies for a combined value of HUF 9.85 bln. This year it plans to invest HUF 11.2 bln in 40 companies, and to exit from 8-10 companies. 

The fund continues to invest in the automotive industry, metalworking, health, environmental management, and the fashion industry, and will add education, sports and defense investments to its portfolio, said Csuhaj.

József Török, the fundʼs business development and startup director, said the SZTA usually offers companies HUF 100-200 million in funding and takes minority stakes. In the future, it will put more focus on involving international partners to broaden the range of potential venture capital investors, he added.

ADVERTISEMENT

Companies Borrow HUF 256 bln in October Banking

Companies Borrow HUF 256 bln in October

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Mahart Container Center Depot Opening at Budapest Airport Transport

Mahart Container Center Depot Opening at Budapest Airport

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

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.