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New Jeremie venture capital funds gain access to more than HUF 28bn

Another HUF 28.5bn in capital will soon be made available to small, innovative Hungarian companies with the support of the European Union’s Jeremie programme, business daily Vilaggazdasag reported on Monday.

Venture capital funds will soon apply for the funding under a tender called by the Hungarian Business Financing Company (MV). The funds will invest the capital in small start-ups or companies in their growth phase.

Vilaggazdasag said as many as ten funds could gain access to the funds.

Eight such funds won access to the earlier Jeremie funding and started operating in the second half of 2012, MV deputy-CEO Balazs Garamvolgyi told the paper. In the past one and half years, almost HUF 18bn has been invested in more than 60 companies, he added.