Are you sure?

DBH to invest HUF 885m in three tech companies

DBH Investment Venture Capital Fund Manager, one of eight fund managers picked to manage some HUF 45 billion in monies as part of the New Hungary Venture Capital Program started by the government in 2009, has picked its first partners, deciding to invest a combined HUF 855m in three technology SMEs, said chairman Sándor Erdei.

DBH will invest HUF 315 million in a company that develops and manufactures industrial automatization systems. It will put HUF 340 million into a biotechnology company and inject HUF 200m into a company that makes healthcare equipment.

DBH will review further potential investments in the coming months.

DBH launched a HUF 5 billion fund in January. The fund included HUF 3.5 billion in grants from the EU's Jeremie program and a further HUF 1.5 billion of its own capital.

DBH will invest an average HUF 200 million – HUF 250 million in innovative SMEs over the coming four years, Erdei said before the fund was launched.

The fund manager belongs to DBH Group, a Dutch-Hungarian real estate, investment and business services company established in 1994. (MTI-Econews)