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A group of Hungarian entrepreneurs has launched Oktogon Ventures, a fund worth EUR 20 million that will invest in startups in eight countries in Eastern Europe, including Romania, according to startupcafe.ro.
The fund will focus on tech startups in Hungary, the Czech Republic, Slovakia, Slovenia, Romania, Bulgaria and Croatia. It’s planning to make early stage and seed investments between EUR 150,000 and 1.5 million, for 20-25 companies that want to scale in the US, Asia or Western Europe.
One of the founders of Oktogon is Guyla Feher, a co-founder of the online streaming service Ustream, which was launched in 2007. After several investment rounds in the US, Ustream was bought by IBM in 2016 for an estimated USD 130 million, and is now present in the company’s business as IBM Cloud Video.
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