Magyar
The company was established in May 2006 with the aim of assisting Hungarian SME’s through the company’s financial products in acquiring equity financing for development purposes and non-refundable European Union subsidies.
The financial base for Start Zrt’s operation is provided by the MVA managed Start Guarantee Fund that amounted to HUF 5.9 billion on the date of the company’s establishment in May 2006. Through the fund, Start Zrt. is committed to provide surety via a number of financial products to its clients, investors, financial institutions and SMEs.
The company conducts its business under market conditions with appropriate risk analysis and risk management in return for guarantee- and other fees paid by its clients.
Start Zrt. is Hungary’s first and currently only financial service provider offering equity guarantee products for professional institutional and private venture capital investors investing in Hungarian SMEs. The equity guarantee program of Start Zrt. that already exists in several countries of the European Union makes equity guarantee, the last absent financial product, available for Hungarian SMEs and their investors.
In the case of equity guarantee provided for individual investments, Start Zrt. guarantees the reimbursement of investment realized through capital increase from a minimum of 50% to a maximum of 80% to its clients in case of liquidation or final settlement of the investee company.
With portfolio equity guarantee, Start Zrt. provides guarantee to investors of venture capital funds financing SMEs in Hungary, which means a reimbursement of up to 50% of incidental capital losses realized at the final settlement of the fund.
Start Zrt’s guarantee of payment for EU grants product enables Hungarian SME’s otherwise unable to meet collateral requirements set by banks to acquire bank guarantees necessary for obtaining non-refundable European Union subsidies. The product provides support for acquiring non-refundable subsidies of EU’s budget for domestic SMEs between 2007 and 2013.
| Name | Start Equity Guarantee Pte Ltd. |
| Seat of the Company | 1115 Budapest Bartók Béla út 105-113. Hungary |
| Phone | +36 – 1- 371-0745 |
| Fax | +36 – 1 - 371-0746 |
| info@startgarancia.hu | |
| Registry number | 01-10-045508 |
| HFSA license number | E-I-P-75/2006 |
| Share capital | HUF 50,000,000 |
| Shareholders | Hungarian Foundation for Enterprise Development – 51% MFB Invest Zrt. – 49% |
| Principal activity | 67.13 Activities auxiliary to financial intermediation not elsewhere classified (that is undertaking payment guarantee in accordance with Section 3. § (1) f. of Hungary’s Act CXII of 1996 on Credit Institutions and Financial Enterprises) |
| Start Guarantee Fund | HUF 6,363,700,000 (Sept 31, 2007) |
