Sandberg Capital buys Hungarian coding bootcamp Green Fox Academy

• Green Fox focuses on career changing, up-skilling programs, and corporate academies in the IT sector
• The company is Sandberg’s first direct investment in Hungary and expands the firm’s foothold in central Europe
• Sandberg has acquired the majority stake in Green Fox via Sandberg Investment Fund II

Sandberg Capital announced it has acquired a majority stake in Hungarian coding bootcamp Green Fox Academy. The company offers junior developer and Salesforce specialist courses in Hungary, Slovakia and the Czech Republic. Green Fox, headquartered in Budapest, focuses on career changing, up-skilling programs and corporate academies in the IT sector.

Sandberg made the investment via Sandberg Investment Fund II, and it is the firm’s first direct investment in Hungary. The acquisition of Green Fox expands the firm’s foothold in central Europe. The company employs 113 people and has educated more than 4000 IT to date.

“With the ever-present push for digitization, basic IT skills are becoming essential across variety of industries. The traditional education system is, unfortunately, unable to fulfill such demand. We believe that together with Green Fox, we will be able to support the digitization trend in the CEE region,” says Jakub Krajčovič, investment manager at Sandberg Capital. “Central Europe is widely known for its manufacturing heritage. However, ongoing automation will not only require IT specialists for the everyday operation of many companies. Workers will have to adapt to changing conditions and re-skill themselves to find new opportunities on the market. Green Fox is well positioned to assist them and play a significant role in the CEE’s transition towards a knowledge-based economy.”

Sandberg Capital is a Bratislava, Slovakia-based private equity firm that invests in smaller and mid-sized companies with growth potential across central Europe. It invests across the IT, agriculture, telecommunications, retail and education sectors.