The Hungarian Development Bank Rt (MFB) has made its first investment as part of its new venture capital activity. MFB injected Ft 490 million (Ђ1.8 million) into Kunfehйrtуi Aranykapu Rt as a result of which it purchased 49% of the company that processes wine industry by-products, sources close to the investor said.
Seeking to implement a Ft 40 billion capital investment programme, the MFB has examined 64 possible target companies so far. New investments are to be announced early next year.
Corvinus Rt, a subsidiary of MFB created to boost Hungarian companies’ capital investments abroad, will also accelerate its activity next year. The company has invested Ft 1.4 billion–Ft 1.5 billion so far, but this year the MFB increased the capital of Corvinus by Ft 7.5 billion to over Ft 10 billion. It will invest a further Ft 10 billion into Corvinus by 2005.
