Euroventures Capital Advisory has reached a second and final close on Euroventures Hungary III Limited Partnership. The fund has raised E51m.
Investors in the second closing included ABN AMRO Capital, the European Bank for Reconstruction and Development (EBRD), Lombard Odier Darier Hentsch & Cie (LODH) and an institutional investor based in the Middle East.
In the fund’s first closing, E31m was raised by lead investors ABN AMRO Capital, the EBRD and the European Investment Fund, as well as a Hungarian pension fund managed by Credit Suisse Life & Pensions.
The fund is the first private equity fund in Central Europe with a structure that enables Hungarian pension funds to invest in private equity. The fund will invest in expansion and buyout transactions of businesses in Hungary and other Central European countries.
To date, the fund has invested in two companies: SkyEurope Airlines, a low-cost airline operating flights out of Bratislava (near Vienna), Budapest and Warsaw; and AP Aqua, a home and office delivery water service firm, which rents and installs coolers and sells bottled water supplies.