In the announcement, it was emphasized that as a result of this transaction, talented Hungarian companies could get the opportunity for early capital investment, as well as direct access to, among other things, the goods, services and capital markets of the United States. They added: The best-performing companies can participate in new rounds to raise capital.
According to the announcement, the subsequent investors are the most famous fund managers in the world, such as Tiger Global, Sequoia, Two Sigma, Y-Combinator or Techstars. Using the method, they have been able to help several companies from scratch to a valuation of more than $100 million. Investors in the new fund are mainly private investors, and the European Bank for Reconstruction and Development is also present in it.
According to the agreement, 500 Emerging Europe will establish its CEE headquarters in Hungary, hire local staff, organize investor events in the country, and also plan to launch a talent management program. Moreover, part of the cooperation is that the amount corresponding to the total investment of the Széchenyi funds will be invested in Hungary and in the narrow area 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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