HUF 70bn in funding earmarked for Hungarian SMEs
The Szechenyi Venture Capital Fund plans to invest up to HUF 70bn in Hungarian SME's by 2022. It's a EU-supported investment fund established by the state in order to fund the small to medium enterprise sector. The funding is planned for disbursal between 2019 and 2022. The fund made 111 investments between 2012 and 2018, investing a total of HUF 9.85bn last year in 47 firms. This should increase to HUF 11.2bn in 2019, with the money likely going to companies involved in the metalworking, automotive, health, and fashion industries as well as for environmental management, sports and education purposes.