State venture capital fund invests in media company
The Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support SMEs, has acquired a minority stake in Oxygen Media Group, a regional radio, television and internet portal company based in Győr, according to a statement sent to MTI. SZTA acquired the stake, the size of which was not revealed, for HUF 110 million. The company will use the fresh capital, along with an additional HUF 41 million, to expand and develop. Oxygen Media Group expects revenue to climb 10% this year over about HUF 200 million in 2012. Széchenyi Capital Investment Fund started operations in June 2011, and invested HUF 1 billion to SMEs in the first twelve months of its operations. Its fund manager said in February they plan to invest HUF 4 billion in the next twelve months.
Czech Economic Sentiment Hits 1-year High
Chinese President to Visit Budapest in May
LOT Seoul Flight Lands in Kazakhstan Due to Drunken Passenge...
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
