Hungarian investment fund to invest in CEE tech startups
A group of Hungarian entrepreneurs has launched Oktogon Ventures, a fund worth EUR 20 million that will invest in startups in a number of countries in Eastern Europe, Startupcafe.ro reported, as cited by news site Business-Review.eu.
According to the report, the fund will focus on tech startups in Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Slovakia and Slovenia.
Oktogon Ventures is planning to make early-stage and seed investments of between EUR 150,000 and EUR 1.5 million, for 20-25 companies that want to scale up in the United States, Asia or Western Europe.
One of the founders of Oktogon Ventures is Gyula Fehér, a co-founder of online streaming service Ustream (now IBM Cloud Video), according to the report.
EU-Startups.com reports that Oktogon has already made two investments in Hungarian companies, Recart and Bitrise, the latter together with the Hollywood actor Ashton Kutcher as an angel investor, who was also an early investor in Ustream.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.