State-owned VC fund makes 50th investment

Telco

The Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state with EU funds to support SMEs, has made its 50th investment, injecting HUF 150 mln into machinery company Pannon Tools, SZTA said yesterday.

Pannon Tools employs almost 100 people and had revenue of more than HUF 1.3 bln last year. SZTA has invested HUF 6.5 bln in Hungarian companies. SZTA manages HUF 14 bln, of which 85% comes from European Union funding.

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