Significant move in the regional venture capital market – PortfoLion’s start-up investment Banzai Cloud Ltd. to be acquired by Cisco

Budapest, 16.11.20. – PortfoLion Capital Partners, a key venture capital firm focused on the CEE region, confirms news about Cisco’s intent to acquire substantially all of Banzai Cloud’s assets. Banzai Cloud is known for its pioneering achievements in the field of cloud-based container system management. Founded in Hungary, Banzai Cloud was funded in two rounds by PortfoLion, acting as the company’s lead investor, and now executing on one of the most significant exits of the regional technology market in recent history.

The announcement by Cisco today of its intent to acquire Banzai Cloud’s assets is a re-enforcement of the health of the start-up ecosystem in the CEE region.

We are proud to have been able to help Banzai’s exceptionally capable founders and team succeed and see this as a good example of building local companies into global success stories. We believe that the success of Banzai Cloud will also help level up the start-up ecosystem in the CEE region,” said András Molnár, CEO of PortfoLion Capital Partners, part of OTP Group, lead investor of Banzai Cloud summing up the planned acquisition.

Technical background

Kubernetes, an open-source platform originally launched by Google enables IT experts to manage the simultaneous running of a large number of containerized server-side applications even among more than one cloud-based environments. The automated solutions offered by Banzai Cloud make the integration of Kubernetes significantly simpler and faster for large enterprises. This is one of the reasons why the individual applications have reached millions of downloads in the past years and the corporate Banzai Cloud blog has 60 thousand readers a month globally.

Banzai history

Some of the key people behind Banzai Cloud worked together previously in the first half of the decade before founding and selling SequenceIQ, their first data management project, to Hortonworks (now Cloudera), one of the largest big data companies globally. Their next venture was Banzai Cloud, led by János MÁTYÁS, Miklós CSENDES and Krisztián FLAUTNER in which they set out to ride the wave of paradigm change in the market of application development and infrastructure management. Since founding the company 3 years ago it has received $5 million in two funding rounds including investments by PortfoLion Capital Partners. Two other participating investors included FastVentures and Euroventures; the latter was a founding investor in the company.

“As a regional venture capital investor, we focus not only on finding talented teams with a global vision but also on partnering with them to help achieve a successful exit,” András Molnár noted. Apart from its investment in Banzai Cloud, PortfoLion has recently completed investments in several other companies at varying stages of maturity – early, growth and late stage – that are focused on innovation and digital technology. The terms of the Cisco deal are not being disclosed.

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As one of the largest venture capital and private equity management firms in the CEE region, PortfoLion VC continuously seeks startup companies with innovative, scalable solutions and agile teams to partner up with them and to invest in Seed & Series A rounds.

On the 8th of May, the fund management firm organises its first Virtual Pitch Night that provides an opportunity for startups to pitch their business ideas and get hands-on feedback from successful entrepreneurs and senior investors. Selected startups will be given the chance to present their business model and growth plans, followed by feedback from a professional advisory panel. Successful teams will get on a fast track in PortfoLion VC’s investment process which can result in investments up to EUR 2M.

At the event – organised in collaboration with Startup Europe Networks and PODIM DX – keynote speaker Zach Coelius (Angel Investor, Serial Entrepreneur) talk about how founders can prepare for an economic downturn and uncertain times, exploring what it takes to be a war-time CEO, building resilience, and taking advantage of new opportunities. The keynote will be extended with a panel discussion about the state of fundraising during the COVID-19 crisis with CEE-based entrepreneurs and investors including  Andras Molnar (PortfoLion VC), Gyula Feher (Oktogon Ventures, previously Ustream), Istvan Csanady (Shapr3d)  and Marvin Liao (Early Stage Investor, Tech Executive).

Startups can apply by filling in the following form. Registration is open until 12:00 noon CEST 6th of May, however we are selecting applicants on a rolling basis so the sooner you apply, the better your chance is to secure your spot.

The ideal candidate has already found product-market fit and is seeking funds for business model validation, product improvement and business development.

Preferred industries include – but not limited to – E-commerce, Big Data, IT Infrastructure, Financial Software, Artificial Intelligence and Machine Learning.

If you are a startup and you are looking for an investment partner who is not only offering capital to finance organizational and business development but also helps founders through its extensive network and business expertise, then this is the perfect event for you to participate at.

Register for the event as well and join us online on the 8th of May if you are interested!

Let us know if you have any questions by contacting us at pitchnight@portfolion.hu

About PortfoLion

PortfoLion is OTP Bank’s venture capital and private equity arm and one of the largest private investors in the CEE region. PortfoLion provides companies with a stable financial background to facilitate their successful market entry and international expansion. PortfoLion currently manages over EUR 130 million with more than 20 companies in its portfolio. The fund management company partners up with companies across multiple growth stages primarily in the CEE & SEE region but it’s also open for investment opportunities from all over Europe. – https://www.portfolion.hu/en

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