Széchenyi venture capital fund exits 20th investment
Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support SMEs, has exited its 20th investment, selling a stake in pallet maker Baracsi-Paletta 97 ahead of schedule and at a better than planned yield, the fund told Hungarian news agency MTI today.
The fund invested HUF 98 million in the company in 2013. SZTA has invested almost HUF 13 billion in some 90 companies since 2015. About 85% of the capital SZTA invests comes from European Union funding, and the remaining 15% is from the Hungarian state.
According to its website, SZTA invests into micro-, small- and medium-sized companies which have been operating for at least two years, providing capital for technological developments, and the expansion of business activities serving as a base for growth, in turn for share acquisition.
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