The Association was founded to promote the social impact investment approach in Hungary and the region, so every investment shall be made with the intention to generate measurable societal impact alongside financial return.

We are a community of investors committed to contribute to positive societal change. We strive to stimulate the impact ecosystem and increase the number of social impact investments by developing the sector through knowledge-sharing and professional networking events.

  • We organize regular meetings and events allowing knowledge-sharing, networking, and cooperation for our members and for those who are interested in SII.

  • By collecting and disseminating the international knowledge and best practice in SII, and with the involvement of professional experts, we create and operate a live knowledge centre to support and develop the sector.

  • We cooperate with the key-players of the Hungarian and international impact ecosystem to stimulate capital flow into the sector.


Elemér Eszter



Elemér Eszter is Chairman of the Board at PBG FMC and Impact Ventures fund management companies. With decades of investment and entrepreneurial experience, he is directing the first social impact fund in Hungary.

Szabolcs Varga



Szabolcs Varga joined Gutmann in 2004. He is a partner in the Bank and director of the Bank’s Hungarian office. Szabolcs Varga studied finance and business management at the Corvinus University of Budapest, law at ELTE, Budapest and holds an AMP Diploma from IESE Business School, Barcelona.


Nora Bogsch



Nora Bogsch fulfils the position of head of secretariat since November 2020. With her background and experience in tourism and event organisation she wishes to add an asset to the group. Fell free to contact her with questions ralated to operations, trainings, knowledge sharing, workshops and conferences.

Károly Fehérgyarmati-Tóth

Supervisory Board member


Karoly is Chief Operating Officer at IMPACT VENTURES Ltd. He has more than 20 years of banking and investment experience. Throughout his career he extended his knowledge in consortium-, syndicated loan-, project-, and enterprise financing, and gained experience on the field of investing. In 2016, he has taken the role of COO at PBG FMC Venture Capital Fund Management Ltd.

Dr. Tibor Héjj

Chairman of the Supervisory Board


His whole life can be considered as International. After having graduated at the Hungarian Electric Engineer University (BME), he gained an MBA degree at one of USA’s top 20 Universities, whilst his doctoral degree in Italy. Furthermore, his publications are available in English and German.
He has worked, founded and directed companies in all of the German-speaking countries, in the USA and in the Far East (Taiwan, Singapore, etc.). Formerly he had worked at tier-1 strategic consultancy firms (BCG, A.T. Kearney), where he had reached partner level, followed by establishing his own group of companies (Proactive Group). He still only undertakes assignments, strategic consultancy, raising capital and exits in the field of interim management with an International aspect, all of this not only via a success fee, but also by adding own capital, here in Hungary and/or abroad.
Impact investment is one of his key interests. He finds it outstandingly important that his own private and corporate asset should not only be embodied in profitability.
His own non-profit company, the SunFlower Ltd. has a 20 year old history and has 100+ underprivileged employees, with a goal of providing reintegration into the society.

István Turcsik

Supervisory Board member


István Turcsik forms part of the Board of Directors of Portus Buda Group Ltd. and is the
managing director of Ester Communications Ltd. He has been working in the field of
ecclesiastical management development and communication since 18 years. He is the founder
of the Portus Buda Group Ltd. and is head of the company’s non-profit activities. Since 2003,
he is the strategic director and since 2008 the executive director of Ester Communications
Ltd., the communications branch of PBG. His special field is ethical corporate management
and ecclesiastical, non-profit communication, amongst many other things. He forms part of
the supervisory board of PBG FMC Venture Capital Ltd., established in 2009, and is also the
founding member of the Social Impact Investors Association.

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