Publication: MTI-Eco Econews articles
Provider: MTI-Eco
Date: June 16, 2005

Primus Capital, New Market Holding invest USD 400,000 in VideoCast

Budapest, June 16, 2005 (MTI-ECONEWS) – Venture capital company Primus Capital Partners and regional strategic investor New Market Holding are investing USD 400,000 (HUF 82m) in VideoCast, a start-up company that makes software for Internet Protocol Closed Circuit Television (IP CCTV). Primus Capital is investing USD 300,000, its limit for any one investment, and New Market Holding is investing USD 100,000, business daily Napi Gazdasag reported on Wednesday.

VideoCast's software, developed by five engineers who also have a stake in the company, recognises suspicious activity in images from CCTV cameras and sends an alert over a computer network. The software can detect, for example, a thief running with stolen goods from a warehouse.

The market for the product is expected to grow significantly, according to Zoltan Bruckner, who manages Primus Capital's investments.

Primus Capital has investments in two other Hungarian companies: USD 300,000 in biotechnology company Nebotrade, and an undisclosed amount in Mirai Interactiv, which makes digital marketing campaigns. Primus Capital is in talks with a fourth potential investment target as well.

Primus Capital plans to start a new venture capital company later this year, Mr Bruckner said. The company will invest in already operating or start-up technology companies with annual revenue of at most HUF 500m. The companies can be in Hungary or neighbouring countries. Investments will vary between USD 500,000 and USD 1m. Primus Capital will start collecting money from investors in autumn.

(HUF 100 = EUR 0.4023)

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