Gyula Fehér, the founder of the video streaming startup Ustream that was acquired by IBM and subsequently renamed to IBM Cloud Video, founded VC firm Oktogon Ventures in april 2019, after leaving IBM. Oktogon has raised €10 million for its first fund, with the target amount set at €20 million. Gyula himself has put €1.5 million of his own capital in the fund. The firm plans to invest in early-stage startups across Central and Eastern Europe, namely in Hungary, Poland, the Czech Republic, Slovakia, Slovenia, Romania, Bulgaria, and Croatia. The fund plans to have a presence in Europe and the US and will look for startups that target international markets from day one. Oktogon has already made two investments in Hungarian companies, Bitrise and Recart.
