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.
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.
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.
The ecommerce market is continuously growing. Currently, ecommerce in Europe itself is expected to be worth €717B at the end of 2020. The biggest change in this market is the number of players operating in the sector right now. Poland-based Edrone is one such player that provides instant ROI and customer experience solutions for ecommerce.
Yieldigo, a Czech startup founded by three mathematicians, has raised €2 million in seed funding to expand its AI-based pricing platform. The Hungarian VC fund PortfoLion and Silicon Valley’s Alchemist Accelerator participated in the round, alongside J&T Ventures.
Eximbank and OTP Bank are set to launch Regional Private Equity Fund II, with HUF 25 billion of starting capital provided equally by the two companies, according to a press release by OTP Group member PortfoLion, the company which will manage the new fund.
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 email@example.com
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
Budapest-based venture capital and private equity firm, PortfoLion, is investing $2.4 million in cloud contact center software provider company VCC Live through its regional private equity fund with investors OTP Bank and Eximbank. The funds will be used to accelerate product and service innovation, as well as to expand globally.
BUDAPEST, 2019-Aug-06 — /Travel PR News/ — Szallas.hu PLC. has successfully acquired two Hungary-based intercountry travel agencies, Utazok.hu PLC. and Maiutazás Group, both of them offers discount trips online. By also purchasing Pihipakk.hu, the portfolio of Szallas.hu PLC. is now supplemented with experience packages, and Maiutazas.hu will be integrated into the international travel branch. Maiutazas Group achieved EUR 5,5 million turnover in 2018 and after the merge, the new group has gained EUR 27,8 million in all.
Rollbar, provider of real-time error monitoring Software as a Service, announced today it has acquired Hungary-based Samebug, in a strategic move that further deepens its domain expertise in grouping and allows for integration of proprietary Samebug technology into its error monitoring solution. It also allows Rollbar to quickly grow its engineering team and have greater access to European customers.
Rapid pace of innovation, new technologies and the digitalisation of almost all segments of the economy pose a huge recruitment challenge for companies all over Europe. The number of job vacancies requiring digitally skilled workers is estimated to rise to 700,000 by 2020 on an EU level. To tackle these challenges, Budapest-based IT education startup Codecool launched a disruptive model for training coding and other digital skills three years ago. The recipe proves to be successful as the company now adding €3.5 million of Series B round venture capital – provided by Lead Ventures and Portfolion – funding to finance its European expansion.
Banzai Cloud has closed its latest round of seed funding with a total investment of $2.5 million. The round was led by PortfoLion, a Central European venture capital and private equity fund, and included financing from FastVentures and Euroventures of Budapest, the latter being an angel investor that has been with the company since its foundation in 2017.