Ordinary members of the Association

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.

Pál Iváncsics

Pál Ivancsics is member of the board of directors at PBG FMC Ltd. He graduated from the
Technical University, Faculty of Electrical Engineering, became scientific staff at the Hungarian
Academy of Sciences, Institute of Technical Physics and Materials Science. In the mid-90s he
served as IT director at Westel Mobile Telecommunications Ltd. He holds an MBA degree of
The Open University, United Kingdom. He became Director for Strategic Business
Development and later CIO at T-Mobile Hungary Ltd. From 2008, he worked as Director for
Innovation Technology at Magyar Telekom Ltd. He has held directorial positions at several
telecom, IT, venture capital and other investment companies and funds. He takes part in the
decision-makings of PBG’s activities related to investments.

István Turcsik

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.

Ágost Wildner

Ágost Wildner is part of the Portus Buda Group’s Board of Directors. After graduating at the Peter
Pazmany Catholic University, he filled leading positions in a variety of media companies, followed by
becoming the founding owner of the PBG Group and one of its Directors. With his management, a
number of subsidiaries have been established in the field of real estate development, energetics and
hospitality, such as Servitor Pro Multis Nonprofit Ltd., with Nissen Ltd. also being connected to his
As the owner of enterprises, from the very start, he has felt it vital that a company should not only be
involved in profit-making, but in creating a social impact as well.

Arete Consultancy Ltd.

Arete Consultancy Ltd. in Budapest aims to invest into such digital enterprises that contribute
to the welfare of a wider scope of the society. These start-up companies operate in the fields
of health and sport, labour and education, mobility and city development, as well as financial
digital technology. Arete Investment Ltd. seeks both the International market’s most
outstanding talents, best ideas for future prospects, as well as partners that are open for
innovation and abide to real values, respectfully. Arete typically invests into early-phase (preseed) start-ups, whilst not only investing, but also providing professional mentoring and
business-development consultancy.
The focus of Arete is global, however it solely searches such enterprises, who already have at
least a prototype-phase product or service, along with a good and stable team. Arete focuses
on the joint work of talents with a wide range of professional backgrounds, on the
collaboration of enterprises with different nationalities and on the quest of women

Value Preserving Network Ltd.

The ÉrMe Hálózat, „Value Preserving Network” creates a platform for Christian business men,
entrepreneurs and managers to meet. In the midst of the club nights and other events, the
members of the network can learn – and exchange experience – about the ways of working
as a Christian within the economy, the means of synchronizing their faith and their business
activity. Furthermore, the events give an opportunity for the members to network and
cooperate with one another and make mutual business plans on the lines of shared values,
personal friendship and trust. The goal of ÉrMe furthermore is social engagement: people in
need are regularly supported, as well as other valuable public initiatives.

The mission statement of ÉrMe – „Business is more than pure profit” – reflects the view of
our members, namely that the target of a business activity is not only financial benefit, but
also the service of common good respectively. This motto also expresses the fact that its
members regard their business activities as valuable ones, would like to bring profit and run a
successful entrepreneurship.

Gutmann Hungary Ltd.

Bank Gutmann has immense expertise in handling wealth, whilst at the same time
understanding the needs of its clients. The bank’s highest level of consultancy competence, as
well as its market leader role in Austria is reflected in the number of independent awards. The
clients of Gutmann include domestic and foreign companies, foundations, wealthy private
persons, and families, as well as institutional, corporate clients.
On the Hungarian site, in Budapest, the main focus lies on private asset management, in the
course of which the wealthy first generation private clients are helped with thorough
In line with this, the team also gives advice on all the wide range of Gutmann’s portfolio –
tailor-made service, with local focus.

Impact Ventures Ltd.

IMPACT VENTURES Ltd. managessocial impact funds with a focus on social innovation. Its aim
is to achieve measurable positive social impact alongside a financial return.
In order to achieve this, it invests in and provides business development support for social
enterprises with sustainable, scalable business models. The target company’s success lies in
the jointly implemented social impact and financial return.
The funds invest in Hungarian or European companies irrespective of the sector, bearing with
innovation capacity and growth potential, with a special focus on social integration, education
and employment, underserved needs of the disadvantaged and environmental sustainability.

Hungarian Benedictine Congregation

Hungarian Piarist Order

„To gain knowledge means investing in the future.”

The Piarist Order is a Catholic tutoring, educating religious order, being present in Hungary
for over 350 years. We operate nurseries, primary and high schools, educating centres,
dormitories, colleges in order to provide a possibility of the youth to fully unfold in their
personal well-being. More than 4500 students and almost 750 employees form part of our
Institutions. The mission of our order is to evangelise via education. Our management is
implemented through the values of the gospel. It is our fundamental principle that in the
economical and administrative decision-making process both ethics and justice must form
priority over all other criterion. In every economical matter, solidarity is taken as the basic
principle, solidarity within the Institution and outside of it (manifesting itself towards those
outlawed from the society).
In the process of our investment selection we handle social and environmental social impact
as equivalent aims working hand-in-hand with the financial results.

Proactive Holding Ltd.

Dr. Héjj Tibor cégcsoportjának a holdingja. A tulajdonos egész élete a “nemzetköziség” jegyében telt.
Hazai villamosmérnöki egyetemi végzettségén (BME) túl MBA diplomát szerzett az USA egyik top-20
egyetemén, menedzsment doktorátusát pedig Olaszországban védte meg, publikációinak legtöbbje
pedig angol nyelvű.
A munka területén is a nemzetközi reláció a tulajdonos és vele a cégcsoport irányultsága és
megmérettetése. A csoport zászlóshajója stratégia tanácsadó cég (Proactive Management
Consulting), mely részben külföldi cégeknek dolgozik idehaza, részben hazai cégeket segít a
világpiacra (termékeik és szolgáltatásaik mellett tőkebevonási területen, kinti cégek létrehozásában
és vezetésében, stb.) Különösen a német nyelvterület országaiban, de ezen kívül az USA-ban, és a
Távol-Keleten (Tajvan, Szingapúr, stb.) egyaránt. Kiemelt terület a cégekbe történő tőkebevonás vagy
teljes exit. Az elmúlt 2 évben a PMC 8 ilyen sikeres tranzakciónak volt stratégiai előkészítője majd az
eladási oldal vezető tanácsadója, a megbízások döntő többségét sikerdíjasan vállalva.
A Holding kiemelten érdekelt impact investment témákban, e téren a csoport legfőbb cége a Napra
Forgó Nonprofit Közhasznú Zrt, mely 20 éves és 100+ hátrányos helyzetű alkalmazottja van, cél a
munka alkalom biztosítása és az ezen keresztüli társadalmi re-integráció. 2020 év eleje óta a
hátrányos helyzetűek számára a munkahelyen kívül igény esetén a kedvezményes lakhatás is
biztosított, egy szintén impact investment befektetés („social housing”) keretében.

Servitor Pro Multis Nonprofit Ltd.

The Servitor Pro Multis Nonprofit LLC. was established in 2009 with the cooperation of the
Benedictine, Franciscan, Jesuit and Piarist Order and the Portus Buda Group Ltd. At the
foundation of Servitor and during the development of our services, our leading goal was the
recognition that the key factor in creating a more sustainable operation of the ecclesiastical
institutions and charity organisations lies in the joint forces within the market.
For over a decade we have been striving to assess the most important maintenance needs and
requirements of ecclesiastical, charitable and non-profit organisations in the circle of the
church, and adapting to these demands, our goal is to find and develop the best possible, most
favourable market opportunities and services. The „bipolar” ownership structure combines
the solid values of the orders with extensive market experience.
Servitor maximally seeks to implement in both its professional and personal affiliations the
dominical values and businesswise ethical conduct, respectfully. We would like to minister
and provide service to the ecclesiastical organisations in a way that they can perform their
work and mission in a more effective way with our collaboration.
At this moment in time we support more than 200 religious, monastic, as well as Roman
Catholic, Greek Catholic, Protestant, Lutheran organisations, along with the whole
institutional network of the Hungarian Maltese Service, the ÉTA Association and more than
ten religious orders, at more than 500 premises.

Susterra Capital Ltd.

Susterra Capital Partners Venture Capital Ltd. was established by private individuals with firm
beliefs, who also wish to create values via their investments, where successful financial return
and a sustainable positive environmental impact go hand-in-hand.
The first investment fund, Water Impact Fund I was launched in 2020, and wishes to contribute
to the renewal and alteration of the water-technological sector through its investments.
Susterra’s Water Impact Funds wishes to invest a significant part of its capital into innovative
and scalable water and sewage technologies, whilst its remaining resources into technologies
in the field of high water intensity, who aim to make water consumption more efficient and
who reduce sewage emission. Furthermore, the fund seeks such smashing, justified and
innovative business solutions, which via its technologies facilitate the creation and spread of
smart cities, circular economy and other sustainable patterns.
The potential enterprises must prove their business-growth potential in the lines of creating
a sustainable economic effect, whilst also providing a realistic exit strategy, which needs to be
in accordance with the long-term environmental impact objectives.
The investor team of the Water Impact Fund is a well-established one, complementing one
another, having altogether 190 years of business and industry experience. The necessary
number and wide range of investment possibilities is provided by the extensive network of
the team.

Golden supporting member

Erste Bank

In the firm belief that everyone must be treated with dignity and respect, our founders
established Erste 200 years ago to give everyone – without distinction of status, nationality,
faith, gender, age etc. – access to prosperity. Disseminating and securing prosperity for all is
and always will be our goal. An important phrase of our vision is that “Our commitment to our
customers and to Hungary, in addition to our banking and investment services, is also
demonstrated by our commitment to society.”
For various reasons, a substantial number of people do not have access to the basic means of
everyday life, live in poverty or lack financial stability. Erste Group is dedicated to support
those who only a few believe in, to help themselves in their economic development and to
have access to financial services.
Social Banking stands for equal accessibility and presenting the voice of the banks’ clients and
potential employees. Therefore, with the involvement of acclaimed NGOs, we are
continuously reviewing the appropriate operation of our service channels and employment
strategy in order to get valuable insights from our stakeholder groups and enable the Bank to
develop its processes.
We have also had a special focus on supporting NGOs and social enterprises. Subsequently,
Erste Bank Hungary developed and institutionalised the value proposition for members of the
civil sector both by developing a unique loan product offer that is supported by a European
Investment Fund (EIF) guarantee and by the creation of the most affordable civil account
package in the market.
In addition, Erste Social Banking also has a bridging role between its NGO clients and
beneficiaries and further potential investors and sponsors. There are loads of examples when
we inspired and activated members of Erste’s business network to do good together for a
noble cause, let it be a strategic cooperation, a need for financial support, a new project
development or a charity event.
In order to learn more about the approach and activity of Erste Social Banking, we kindly
recommend you to read this article with the director of the field, Orsolya Szalay.

Golden supporting members

MKB Bank

Golden supporting member

UniCredit Bank

UniCredit Bank Hungary Zrt. is a major player in the Hungarian banking sector, part of the UniCredit pan-European commercial banking group, present in Hungary since 1990. UniCredit is one of the largest banks in the European Union, providing a wide range of services from private and corporate lending and factoring to large development projects with EU support, account management, bank deposits, asset management and investment banking. This is complemented by UniCredit Leasing Hungary Zrt. and supported by UniCredit Jelzálogbank Zrt.

In the spirit of our commitment to a fairer and more just society, we launched our Social Impact Banking activities in Hungary in autumn 2019 to support and finance businesses and organisations that create value for society and to strengthen the financial and business literacy of the population. Our goal to contribute to the betterment of society is supported by Social Impact Banking activities in three main areas:

Through our microcredit programme, we help start-ups and existing microenterprises to start and develop. As part of our social contribution, our microloans are also available to businesses that would not have access to credit through traditional bank financing.

We offer our social impact financing to businesses and non-profit organisations that bring measurable social benefits to society. We help them by providing loans with low interest rates and secure maturities, as well as financial training, exchange of experience and increased transparency.

Financial education and inclusion is the third element of our programme, and we aim to develop the financial-entrepreneurship skills of young people and young adults, as well as start-up entrepreneurs. We reach them through financial education workshops, courses or competitions with our partners.

In our Social Impact Banking activities, we build strongly on our proven competences in financial education and the high level of commitment of our staff. We continuously monitor and measure the results of our activities.

Golden supporting members

dr. Cornelius Walter

Cornelius is an impact investor focusing on climate change, green infrastructure as well as industry innovators. He invests in and serves on the boards of early and later-stage companies with environmental, social, and governance (ESG) goals and sustainable business models. Cornelius is also an advisor at Lightrock, a leading global impact investing platform backed by the Liechtenstein family. At Lightrock, he spends a significant portion of his time predominantly focusing on energy transition and how to further scale the platform overall.

Prior to embarking on his journey as an impact investor, board member and advisor, Cornelius was a Senior Partner at McKinsey & Company, where he advised financial institutions, energy companies, public-sector organizations, and clients in a broad range of other industries on growth strategies and large-scale transformations.

Golden supporting member


Hiventures’ mission is to support innovative ideas of the present and future and to foster a sustainable and value-generating ecosystem of start-ups, SMEs and large enterprises in Hungary. As a state-owned venture capital company and a member of the MFB Group, we support the entire Hungarian entrepreneurial ecosystem with capital using our own resources and those from the European Union to provide financing solutions from the idea phase to large-scale investments. Hiventures contributes to stimulate the foundation of domestic enterprises, to the education of the start-up ecosystem, to the development of talents, to the domestic and foreign market expansion of Hungarian businesses and to enhance Hungary’s domestic and international competitiveness. At Hiventures we don’t have a special scope of industries, so now we have the chance to invest in startups which can impvore our lives, human relations or our environment. since impact investing hasn’t been around for too long, it’s a great initiative that besides the strict economic interest and profit-orientation of every investor, now we have the chance to value startups from a more social, environmental and sustainable point of view.

Silver supporting members

Péter Szabadhegÿ

Peter Szabadhegy has had a distinguished career that covers banking, management consulting, venture capital and start-up investing, family business management, diplomacy, and charity.

After growing up, studying and beginning his career in the United States, he moved to Budapest at the age of 30, where he is now settled with his wife and five children.

Peter received an MBA from the University of Chicago and a Masters in Economics from the London School of Economics.

Besides managing his business endeavors in the past three decades in Central Europe, Peter recently served as Hungary’s Ambassador to the United Kingdom. He has taken on leadership roles in various charity organizations, such as the Fulbright Commission, Rotary International, and the Order of Malta. He currently serves as the Vice President of the Order of Malta’s Government Council.

Bronz supporting members

Magnet Bank

Balázs Korintus

Dr. Matuz János Ügyvédi Iroda

Honorary members

Nikolaus Spieckermann-Hutter

Nikolaus Hutter is the Founder of New Paradigm Ventures, an advisory firm focused
on accelerating the shift to an impact driven economy. With his partners Angello
advises international NGOs on impact business and investment, and works with
impact driven entrepreneurial teams. He is also is a Director for impact investment
firm Susterra Capital and serves on the Board of Heifer International in the US. He is
also a Board member of the Hungarian Impact Investors Association and a co-founder
of the Hellenic Impact Investing Network.
Together with partners, he set-up the first accelerator program for social innovators,
and initiated the leading annual gathering for impact investors and social innovators
in CEE.
Prior, he led the impact investor network Toniic in Europe, served as VP Operations in
a water company and worked in the VC industry for over a decade.

dr. Barbara Ming

Gergely Iváncsics

Gergő Iváncsics has been involved in setting up and founding Hungary’s first social impact
fund (Impact Ventures) since 2015, and is passionately growing the fund’s portfolio of
European early stage social ventures since its launch in 2018.

From deal sourcing to portfolio management, he’s responsible for the investment process and
impact management. Gergő builds on his experience as investment analyst at PBG FMC
venture capital fund and M&A analyst at Viennese i5invest. His passion is for technology
enabled social innovation, and is restlessly searching for the next tech break-through that
benefits the life of those in need.

Gergő studied Business Development MA at Corvinus University of Budapest and is a CEMS
Master in International Management graduate, having studied in Copenhagen Business
School. He is also faithful to his helping-vocation, having also graduated in psychology at the
University of Szeged.

Ananda Ventures

Ananda Impact Ventures is one of the leading impact investors in Europe. Ananda invests in
companies that address social challenges in vital areas such as education, health,
consumption, and ageing population.

“We – the team of Ananda Ventures – believe in the power of market-based, sustainable and
scalable models with positive impact at the core. We share the enthusiasm of our founders to
build solutions that truly matter. To fuel their missions, we created a space for them to thrive,
based on the knowhow, network, capital and experiences of our team, investors and experts.

Ananda manages 80 Mn. EUR and is proud to partner with some of the leading investors across
Europe – from entrepreneurs and families to traditional VCs.

Gabriella Szabadhegÿ

Szabadhegy Gabriella 2017 és 2020 között ügyvezető titkára a Társadalmi Hasznosságú Befektetők Egyesületének. Jelenleg a Magyar Máltai Lovagok Szövetségének kancellárja és a Márton András Deák Alapítvány kuratóriumának tagja, aminek célja a Kárpátmedencében élő pedagógusok, egészségügyi és szociális területen dolgozók; valamint felsőfokú tanulmányokat végzők ösztöndíj rendszerű támogatása.



The Association was established in order to fulfil the below objectives

  • To underpin the fact that when making a decision on an investment, the Hungarian, as well as the Central and Eastern European investors should consider the social and environmental impact of the investment on an equal scale or as part of the result.

  • To bring together a circle of investors, whose aim is to apply a positive social or environmental impact with its operation, alongside the financial return.

  • To facilitate the creation of an advisory and service orientated infrastructure, essential for the operation of this type of investor segment.

  • To promote in Hungary and in Central and Eastern Europe the business approach created and accepted by the members of the Association, whereby the social and environmental utility is prioritised.

  • Communication, contact with other local and foreign organisations, established for the same or very similar reasons.

  • The enlivening of the ecosystem of the social impact investors and social entrepreneurs.

  • To establish, develop a „Knowledge Centre”, available for the members of the Association.

  • To represent values set by the members before the various regulatory and cooperating organisations and bodies.

  • To provide a regular intellectual and professional forum, whereby members and guests can exchange ideas, thoughts and can network.

In order to achieve its goals, the Association pursues the below activities

  • Represents the interests of its members and those investors who are committed to a business approach based on prioritising social impact.

  • Regularly organises professional forums for its members and for those investors who are committed to a business approach based on prioritising social impact.

  • Publishes its own newsletter and operates Facebook and LinkedIn sites.

  • Runs a website (

  • Builds and maintains a network for its members and for those investors who are committed to a business approach based on prioritising social impact.

  • Collects its financial sources in order to achieve its goals.

  • Formulates and continuously develops the measurement of social and environmental impact, taking the already existing International evaluation method as a base, but at the same time taking into consideration our own, local environment.


Ordinary Member

  • An ordinary member of the Association may be a natural person, organisation without a legal entity, who agrees with the objectives of the Association, conducts its investment activities in accordance with the Association’s mind set, prioritising social impact in their business approach, whilst also conducting its investment activities in line with the Code of Ethics of the Social Impact Investors’ Association, as well as to achieve the goals of the Association. Furthermore, the ordinary member wishes to actively participate in the life of the Association and also accepts the arrangements found in the charter and in the Code of Ethics of the Association as mandatory.

  • Has the right to vote at the General Assembly

  • Has the right to publish on the website of the Association introductory and other press material in line with the subjects, topics represented by the Association

  • May add announcement in the Newsletter published on a quarterly level

  • Receives exclusive participation in the Investors’ Breakfasts, which gives an opportunity for informal meetings between ordinary members and exclusive guests

  • Has exclusive right to participate in our professional events (workshops, conferences)

  • Obligation to pay a membership fee: HUF 200.000/year

Supporting Member

  • Supporting member of the Association may be a natural person, legal person, organisation without a legal entity, who with its business activity supports those investments that are in line with the goals of the Association, who offers supporting services to these investments, and whose core activity corresponds with the Association’s activity, whilst also providing this service in line with the Code of Ethics of the Social Impact Investors’ Association and also accepting the arrangements found in the charter and in the Code of Ethics of the Association as mandatory. Supporting member may be in a gold, silver and bronz degree.

Gold member

  • May participate in the General Assembly, but has no right to vote

  • Has the right to publish on the website of the Association introductory and other press material in line with the subjects, topics represented by the Association

  • May add announcement in the Newsletter published on a quarterly level

  • Has exclusive right to participate in our professional events (workshops, conferences)

  • Obligation to pay a membership fee: HUF 200.000/year

Silver member

  • May participate in the General Assembly, but has no right to vote

  • Has the right to publish on the website of the Association introductory material

  • Has right to participate in our professional events (workshops, conferences)

  • Obligation to pay a membership fee: HUF 100.000/year

Bronz member

  • May participate in the General Assembly, but has no right to vote

  • Is mentioned on the website of the Association on an enumeration level

  • Has right to participate in our professional events (workshops, conferences)

  • Obligation to pay a membership fee: HUF 60.000/year

Honorary Member

We offer this membership on an invitation basis to those who contributes to the work of the Association as a volunteer.


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