The recently launched Széchenyi Capital Investment Fund will provide sources for nearly 150 small- and medium-sized companies in the next five years.
The fund, previously outlined in the New Széchenyi Plan, is managed by state-owned Széchenyi Capital Fund Management Zrt and is set to make investments in a value of €100,000 to €500,000, and, if needed, to provide credit lines for SMEs in Hungary. Once an investment is carried out, the fund will act as a financial investor, its activity will be limited to monitoring the appropriate use of the required capital, the company said in a press release.
The fund aims to make some 120-150 investments in seven regions of the country until the end of 2015. It focuses on SMEs that already have significant market shares, and want to use the capital for viable product, capacity or market development purposes. Targeted companies should also employ a significant staff in the region and have to be in business for more than two years, the fund manager said.
“We measure the success of capital injections, in addition to a high return-on-investment rate, by indirect multiple economic effects,” Imre V. Csuhaj, president of the Széchenyi Capital Fund Managment Zrt, said.