Top VC Funds in Hungary 2024

Venture capital (VC) has greatly benefited Hungary's startup ecosystem. VC funds in Hungary include Impact Ventures, Hiventures, and Euroventures. Many of these funds focus on early-stage startups. Hungary has recently seen the highest investment activity in the Central and Eastern European (CEE) region.

Read also - Business Opportunities in Hungary

VC funds in Hungary are fueling the growth of startups and contributing to the overall development of the country. Despite the challenges, there are new startups emerging as rising stars and champions. These startups and VC funds, with their innovative ideas, strong market potential, and proven success, instill confidence in the future of Hungary’s startup ecosystem. Here is a list of the best VC funds in Hungary.

List of VC Funds In Hungary

Discover a comprehensive list of VC funds in Hungary, featuring top investors backing startups and innovative businesses. Explore key venture capital firms driving growth in Hungary’s tech and startup ecosystem in 2024

1. Euroventures

• Founded Year: 1989
• Stages of Investment: Series A, PE, Seed

Euroventures is a Budapest-based venture capital firm known for its successful international exits. Managing five funds, they are a trusted name in the region, specializing in early-stage tech startups with a focus on SaaS, marketplaces, big data, and IT security.

Their portfolio includes over 50 companies, reflecting their strong support for businesses in a changing global economy. What sets them apart is their experienced team with decades in venture capital. Committed to ESG values, Euroventures believes responsible investing is crucial for long-term success and sustainable growth.

2. Impact Ventures

• Founded in: 2018
• Stages of Investment: Seed to Growth

Impact Ventures is a Budapest-based venture capital firm that invests in companies that make a significant social or environmental impact. Their portfolio includes companies such as Grinsect, Braintrip and AXS. The firm focuses on impact investing and aims to support social SMEs in Europe with strong growth potential.

They target areas such as social inclusion, education, employment, health and environmental sustainability. Impact Ventures looks for innovative and scalable business models that provide meaningful solutions. They provide support through their expertise, network and capital to help these ventures succeed.

3. Invenshure

• Founded Year: 2011
• Stages of Investment: Series A, Seed, Series D

Invensure is a Minnesota-based venture capital firm and startup incubator. They focus on early-stage startups developing medical web applications and IoT solutions. Their portfolio includes companies like GeneMatters, Flywheel, and OneOme.

As a venture studio, Invensure's goal is to create technology and biotech companies that deliver strong returns to investors and improve people's lives. Their in-house scientists and engineers use original ideas to launch and grow new companies. Their expertise and network help turn scientific discoveries into commercial success.

4. Day One Capital

• Founded Year: 2011
• Stages of Investment: Seed, Series A, Series B

Day One Capital invests in seed stage ventures with innovative products and strong growth potential. They focus on early-stage technology companies in Central Eastern Europe.

Their current fund, active since 2018, has a capitalization of 34 million euros. They invest between 300k and 1.5 million euros in seed and Series A stage companies. Day1 Capital believes that the CEE region has a skilled talent pool building top-tier products and companies. Their mission is to help technology-driven founders succeed in global markets with their experience.

5. Flashpoint

• Founded Year: 2012
• Stages of Investment: Series A, Seed, Venture Debt, Series C

Flashpoint is an international tech investment manager.  Flashpoint manages five venture funds in three areas: Venture Capital, Growth Debt and Direct Secondaries. Flashpoint's goal is to connect capital, knowledge and people to support socially responsible growth.

While financial returns are important, they also focus on non-tangible benefits. They have invested a third of their capital in projects such as e-learning, telemedicine and online job platforms that aim to make the world better.

6. Hiventures

• Founded Year: 1999
• Stages of Investment: Seed, Series A, Series B

As a stable player in the Hungarian venture capital market, HiVentures is a reliable partner for co-financing with other funds and angel investors, and a supportive owner for startups. Their goal is to boost the competitiveness of Hungarian startups and support their success.

Supported by National Capital Holding and the Hungarian Development Bank, HiVentures ensures compliance with development policy and is known for transparency. Their mission is to support the development of Hungarian startups through various stages, offering patient and creative investments while leveraging their experience to assist with capital raising, advising and exit negotiations.

7. Lead Ventures

• Founded Year: 2017
• Stages of Investment: Series A, Series B, Seed, Series C

Lead Ventures is a new Budapest-based venture capital and private equity firm that specializes in funding scale-ups in Central Europe. Their mission is to support promising regional enterprises with capital, experience, and an extensive professional network to drive industry transformation through innovation.

With a track record of over 100 transactions in the region, they provide much more than just financing by supporting strategic growth, market entry, and strengthening management. Supported by committed LPs, Lead Ventures invests 1-10 million euros per round, helping regional scale-ups move toward international success.

8. DIWA-Capital

• Founded Year: 2013
• Stages of Investment: Early-stage

DIWA-Capital, led by CEO Walter Diggelmann, focuses on investing in companies and projects that use biologically inspired intelligence (BII) from ai-one™ for a competitive edge.

The firm supports the next generation of computer intelligence and explores innovative projects across a variety of sectors. Based in Switzerland, DIWA-Capital invests in early-stage companies in robotics, AI, healthtech, life sciences, fintech, and business intelligence.

9. iCatapult

• Founded Year: 2012
• Stages of Investment: Seed

iCatapult is a new tech accelerator that helps tech companies enter global markets. It has a skilled team experienced in Central European tech and international business, supported by experts in new technology, internet and mobile technologies.

The program includes continuous feedback and advice from local and international advisors. Supported by Primus Capital, iCatapult runs a 3-month accelerator in partnership with CEU Business School. It funds selected startups up to €19K for a 200% equity stake, focusing on global web, mobile or IoT technologies.

10. DBH Group

• Founded Year: 1994
• Stages of Investment: Seed, Unattributed

Since its inception, DBH has focused on attracting foreign direct investment (FDI) to Hungary and other Central and Eastern European countries. It has evolved from an FDI consulting firm to an investment and services group specializing in venture capital, flexible infrastructure, and corporate services.

The DBH Group invests in early-stage technology and life sciences companies in Europe, Asia, and the US. Their portfolio includes notable companies such as HandInScan, Virtual Call Center, Indiso, and Nanoform Therapeutics.

Conclusion

Hungary is advancing its startup ecosystem. With strong cooperation among all stakeholders, the country could develop a thriving startup culture that supports broader economic growth. In the first half of 2024, funding for startups in Hungary increased compared to the same period in 2023. This growth reflects rising investor confidence and highlights the ecosystem's resilience and energy.

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