In the announcement, it was highlighted that as a result of the deal, talented Hungarian businesses can get the opportunity for early capital investment, as well as gain direct access to, among other things, the goods, services and capital markets of the United States. They added: the best performing companies can even participate in new capital raising rounds.
According to the statement, the later investors are the most famous venture fund managers in the world, such as Tiger Global, Sequoia, Two Sigma, Y-Combinator or Techstars. Using the method, they were able to help many companies from zero to a valuation of over 100 million dollars. The investors of the new fund are primarily private investors, and the EBRD is also present in it.
According to the agreement, 500 Emerging Europe will establish its Central and Eastern European headquarters in Hungary, employ local employees, organize investor events in the country, and also plan to launch a talent management program. Furthermore, part of the cooperation is that the amount corresponding to the entire investment of the Széchenyi Funds will be invested in Hungary and in the narrower region in the following years – read the announcement.
Széchenyi Funds is 100 percent state-owned and manages more than HUF 150 billion in assets, including 80 portfolio companies.
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Source: Portfolio.hu – Befektetés by www.portfolio.hu.
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