The Széchenyi Funds are investing EUR 10 million in 500 Emerging Europe, the US-based investment firm’s newest equity fund.
With the transaction, talented Hungarian companies will be able to invest capital early and gain direct access to US goods, services and capital markets. According to the announcement, future investors include some of the world’s most renowned venture capital managers, such as Tiger Global, Sequoia, Two Sigma, Y-Combinator and Techstars. The investors in the new fund are mainly private investors, but the EBRD is also represented.
Under the agreement, 500 Emerging Europe will set up its Central and Eastern European headquarters in Hungary, hire local staff, launch investor events and a talent management programme.
The Széchenyi funds are 100% state-owned and manage assets of more than HUF 150 billion (EUR 405 million).