The Hungarian Private Equity and Venture Capital Association’s 20th annual investment conference brought LEGO’s ex-head of global brand and business development to Budapest to discuss developments in a strong market.
Ex-LEGO legend Christian Majgaard delivered the keynote address. “Change of owners often implies change of corporate strategy. Since brand strategy shouldn’t exist in isolation, new owners equals new brand strategy,” he said. “Reviving a brand is like healthcare: the right treatment depends on the diagnosis. There is no ‘one cure for all’.”
Levente Zsembery, chairman of HVCA and CEO of X-Ventures, hailed strong numbers in Hungarian transactions.
“The increase in value and volume for M&A transactions in Hungary during 2017 shows that our market is still attracting considerable interest and supporting strong momentum. We expect this trend to continue or even strengthen through the rest of the year, especially for domestic players,” he said. The value of the Hungarian M&A market increased from USD 1.6 billion in 2016 to USD 4 bln in 2017, according to EY’s M&A Barometer.
During the conference, the Hungarian Development Bank (MFB) announced the signing of its membership of the Central Europe Fund of Funds international investment fund.
Another theme aired at the conference was cryptocurrencies. “It is clear that we have only seen the beginning of the FinTech revolution, as we expect a complete transformation of the financial services sector,” added Zoltán Lengyel, partner at Allen & Overy, the conference’s key supporter. “So don’t be surprised when your children will ask for their pocket money in cryptocurrency,” he added.