Venture Finance Hungary Private Limited Company was established in the second half of 2007, with the aim of developing and running financial programs that will expand the financing options of Hungary’s small- and medium-sized enterprises in the period from 2007 to 2013. Most resources of these financial programs are provided by the European Union.
The Company operates as a financial venture, whose supervising authority is the Hungarian Financial Supervisory Authority (PSZÁF), its scope of activities and obligations are determined by the National Development Agency. The Company was established by the Hungarian Development Bank (Magyar Fejlesztési Bank Zrt.) with a capital of HUF 2 billion.
The main activity of the Company is providing guarantee/collateral, in addition to which it acts as intermediary for assistance funds. In the first two years of the period 2007-2013 the Company plans to announce the following reimbursable financial programs:
- Micro-credit program
- Portfolio guarantee program
- Venture capital program
The programs will be announced with open tender notices, based on which we will select the financial intermediaries who will provide assistance in delivering the program’s funds to the end-beneficiary small- and medium-sized enterprises. The programs work as funds, reimbursed financial instruments can be used repeatedly during the programs’ term.