Govʼt raises capital of Széchenyi Venture Capital Fund

Telco

Hungaryʼs government has raised the capital of the EU-supported Széchenyi Venture Capital Fund, established by the state to invest in SMEs, by HUF 8 billion and extended the fundʼs run, Minister for National Economy Mihály Varga said Monday.

The investment period of the fund, established in 2011, was extended until the end of 2025, Varga was cited by state news agency MTI as saying. The deadline for exiting its investments was extended until 2030, he added.

In September the government also decided to launch two other investment funds under the aegis of Széchenyi Capital Fund Management (SZTA) targeting businesses in central Hungary and in areas in neighboring countries with ethnic Hungarian populations, Varga said.

The Irinyi II Venture Capital Fund will be launched with HUF 8 bln to invest, while the Carpathian Basin Business Development Fund will start operating with HUF 20 bln.

The government is launching a third fund with HUF 20 bln to support listings on the Budapest Stock Exchange, Varga said. The National Bourse Development Fund will also start operating in September.

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