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Primus Capital invests HUF 400m in BBS Nanotechnology

Venture capital fund manager Primus Capital on Tuesday said it invested HUF 400m in medical technology company BBS Nanotechnology.

BBS Nanotechnology, based in Debrecen (E Hungary), has created a new nanotechnology-based technique for formulating active ingredients that presents a breakthrough in the area of cancer treatment, Primus Capital said.

The investment is the fifth by the company’s Primus II venture capital fund. Earlier, the fund invested in Blueprint Entertainment, software developer IVM, call centre operator Comforce and marketing company Adfit.

 Primus Capital is one of a number of venture capital fund managers that won a tender called by the National Development Agency (NFU) to manage about HUF 45bn in funds under the New Hungary Venture Capital Programme.