Day One Capital, a new angel fund which focuses on early-stage tech startups, was recently founded in Budapest (Hungary). The founders of Day One Capital claim to have created “the first institutional angel fund in Hungary”. The new fund is currently accepting investor applications and hopes to raise €2-4 million. This capital will then be invest in some early-stage tech startups out of industries like IT, telecommunications, energy, biotech and finance. Day One Capital plans to invest between €200-400k each in 5-10 businesses in the coming year.
The founding team of Day One Capital includes two former top executives at Hungary’s leading telecoms group (Magyar Telekom), an ex-minister (Csaba Kakosy) and a VC fund manager (Andras Molnar).