International law firm Bird & Bird has advised its client, Széchenyi Tőkealapok (SZTA), in relation to its investment in 500 Startups Instanbul Fund II Coörperatief U.A. (500 Emerging Europe Fund), managed by 500 Startups Istanbul II B.V., a member of the 500 Startups venture capital network with over USD 2 billion AUM globally. This transaction was also part of SZTA’s strategy to diversify its portfolio by investing in multiple venture capital funds across Europe. Similar to previous deals where SZTA invested in venture capital funds, Bird & Bird provided the full scope of transactional services when delivering their legal advice.
Pál Szabó, Co-head of Country and Head of the Corporate practice in Hungary at Bird & Bird, comments: “We are really proud of closing this prestigious deal in the framework of which we could help and support our client, Széchenyi Tőkealapok, in relation to its important and highly recognized investment in 500 Emerging Europe Fund. Closing the deal allowed our client to join the 500 Emerging Europe Fund as the single largest investor.”
Gergely Mencsik, Investment Manager at Széchenyi Alapok, adds: “I am really grateful that we could have closed this really important deal, a €10M investment into 500 Emerging Europe Fund. I would like to say thank you for the tireless help to those without whom it would not have been possible and a special thank you to our legal advisor, Bird & Bird, of course, we were very pleased to have them by our side again.”
Bird & Bird’s team was led by Pál Szabó (partner, Corporate) with support from Barnabás Simon (senior associate, Corporate) and Balázs Rudinszky (junior associate, Corporate).
About Széchenyi Tőkealapok (SZTA)
Széchenyi Tőkealapok is one of the largest and most active investors in the Hungarian capital market scene. It manages assets of more than EUR 300 million, including 80 portfolio companies.
Széchenyi Tőkealapok aims to support the long-term growth and stability of the Hungarian economy by investing capital in high value-added businesses. For more information, please visit: Home – SZÉCHENYI ALAPOK (szta.hu)
About 500 Startups Global
500 Startups Global is a venture capital network with more than USD 2.7 billion (As of 31 March 2022. Please refer to 500 Global’s website for details and method of calculation.) in assets under management that invests in founders building fast-growing technology companies. They focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. For more information, please visit: 500 Global
About 500 Emerging Europe Fund
500 Emerging Europe Fund is a venture capital fund which is a member of the 500 Startups Global venture capital network, based in the Netherlands and targets investments in the information technology sector in Turkey and Central Eastern Europe.
