SZTA venture fund investments reach HUF 13 bln

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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.

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