ADVERTISEMENT

Five investors establish angel investor firm for HUF 250 mln

Incubators

Pixabay

Five investors, among them former finance minister Péter Oszkó, have established angel investor firm "Power Angels" to support startups with HUF 250 million in registered capital, MTI reported today.

The company is looking to invest more than HUF 1 billion in around 30-40 startups in the near future with investments limited to HUF 50 million for any individual startup, said Oszkó.

According to Oszkó, they are targeting startups with no capital, in the early stages of development, that have innovative ideas and strong growth potential.

As a long term goal, we want to have ten startups in Hungary in ten years and those startups would ideally employ 10,000 workers, said Power Angels co-founder Péter Balogh of OXO Group.

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Transformation Delineation - Microsoft country general manag... Podcasts

Transformation Delineation - Microsoft country general manag...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

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.