SZTA venture capital fund invests in UT Automotive
The state-established venture capital fund for SMEs, Széchenyi Capital Investment Fund (SZTA), has invested HUF 225 mln in automotive industry supplier UT Automotive, SZTA said today. UT Automotive is expected to use the fresh capital to expand its capacity.
UT Automotive was established last year, when metal working company UniTrade M+M spun off its vehicle parts business. SZTA manages about HUF 14 bln, of which 85% comes from European Union funding.
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