SZTA venture fund investments reach HUF 13 bln
shutterstock
The Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support SMEs, has invested about HUF 13 billion in 91 companies over the past five years, Imre V. Csuhaj, chairman-CEO of the fundʼs manager, said at a press conference Thursday, as reported by state news agency MTI.
The SZTA has so far exited 21 of its investments, generating a yield on 80% of them, Csuhaj said.
The fundʼs investments have created 1,500 jobs at SMEs so far, a number that is expected to double by the time the fund winds up in 2020, said Balázs Rákossy, state secretary for EU fund absorption.
The fund carried out 23 transactions, providing new or additional finance this year, and it will also make 11 final and two partial exits, Csuhaj said. He added that the SZTA was the market leader in terms of transactions both in 2014 and 2015.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
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.
