The EBRD investment will be made alongside Hungarian pension funds through a specially designed investment vehicle. This vehicle will permit these pension funds to invest in Euroventures ' fund, providing them with access to the asset class for the first time.
The fund, which has a final close target of E75m will invest in medium-sized companies in the buy-out, expansion or development stage, investing between E2m and E5m.
Euroventures Hungary III is the successor to the
Euroventures Capital Advisory Kft will be the investment advisor. The company is also the advisor for the existing Euroventures Danube fund, a E15m venture capital fund launched in 2001, which also counted EBRD as an investor. Euroventures Danube Fund provides financing for high-growth small and medium-sized companies in
The Euroventures Hungary team is led by András Geszti, founder and managing director of Euroventures Capital Kft. Geszti was a founder and first chairman of the Hungarian Venture Capital Association.
The EU accession states have of Central and South East Europe been the focus of a number of recently launched private equity funds this year, due in part to the imminent increase in the member-states of the European Union. In May 2004,
Most recently, Mezzanine Management closed its first mezzanine fund targeting South East Europe. Accession Mezzanine Capital, based in
Baring Private Equity Partners, the private equity unit of Dutch bank ING, is planning to launch a new fund focusing on
In June, a group of European investors, including EBRD and Global Finance, launched a private equity fund aimed at investment in small to medium-sized enterprises (SMEs) in