Venture Capital Investments Drying Up in Hungary
- 17 Jun 2024 11:03 AM
- Hungary Around the Clock
The number of Hungarian companies receiving venture and private equity financing fell by 38% in 2023 compared to 2022, as the total value of investments dropped by 58%, according to a report prepared by the Hungarian Venture Capital and Private Equity Association in collaboration with Ernst & Young.
The figure represents the worst result in the past ten years.
Financing startups remained relatively stable but assisting buyouts has essentially stopped.
There was a lack of non-Hungarian financed investments.
Foreigners financed on this market €71 million in 2020, €92 million in 2021, and €70 million in 2022, but only €8 million in 2023.
Not a single venture or private equity fund manager announced fundraising in Hungary last year.
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