As previously reported, MFB Invest Zrt, belonging to MFB Group, has started an enterprise development private equity fund (The Municipal Equity Fund) to support small and medium-sized enterprises in Debrecen.
In recent years, Debrecen has received more than HUF 600 billion in working capital and created 6,000 new jobs. The development of small and medium-sized enterprises is also important for the city in order to strengthen its economic position. The Municipal Equity Fund was established in October 2019 together with MFB Invest Zrt. The Fund operates with HUF 10 billion, a 12-year term and a 7-year investment period.
“We expect this cooperation will further improve the competitiveness of the small and medium-sized enterprise sector. We see the SME sector as a very important resource to be integrated into the production chain of large multinationals or large companies” – emphasized László Papp, mayor of Debrecen.
The managing director of MFB Logos Ventures Venture Capital Fund stated that they would like to realize about 50 investments in the coming years.
So far, 20 companies showed interest in the city’s equity fund. Fund operators will set up a workshop for those interested on 25th March 2020 to tell more about the details.
Photo credit: Municipality of Debrecen