Venture capital activity in Hungary shrinks by 55.1% y/y in 2009.

By bne IntelliNews April 23, 2010
Total venture capital investments in Hungary amounted to EUR 214mn, plunging by 55.1% y/y, according to preliminary figures from the European Venture and Private Capital Association. There were twelve venture capital transactions in the country during the year, compared to 25 in 2008 with an average value of EUR 17.8mn. The latter also dropped by 6.3% y/y. On the positive side, the venture capital sector was expected to strengthen in the future due to the support from the EU-funded Jeremie programme. Laszlo Olah, director of the association, pointed out that the programme should result in EUR 31.5bn of EU resources, directed in venture capital investments by 2013. These funds would be supplemented by EUR 15bn of private capital as well.

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