Venture capital fund of the former Minister of Economic Affairs Johann Schneider-Ammann
Switzerland has a new venture capital fund. Through this, start-ups and SMEs that are about to go international can apply for a cash injection of 5 to 20 million.
Although this venture capital fund will not be launched until the second quarter of 2019, it is already attracting a lot of support: under the aegis of ex-Economy Minister Johann Schneider-Ammann, the Swiss Entrepreneurs Foundation has been raising money for a Swiss venture capital fund for start-ups since 2017.
The founders of the foundation are Mobiliar, USB, Credit Suisse, Swisscom, the Gebert Rüf Foundation and Wenger & Vieli Attorneys at Law. Privately, Council of States member Ruedi Noser and Aravis Chairman Jean-Philippe Trippet are also involved.
The aim of the funds is to prevent young companies from transferring their know-how to other booming business locations.
Now the fund will be opened with a base of at least CHF 250 million. The target is 500 million.
SMEs with great potential wanted
According to the Swiss Entrepreneurs Foundation website, the investment phase will begin in the second quarter of 2019. Fund-of-funds investments are planned, as well as direct investments in promising innovative start-ups and SMEs with great growth potential.
The focus is to be on growth financing in the internationalisation phase with capital requirements of CHF 5 to 20 million. Early-stage start-ups with smaller financing needs will not be supported directly.
The Swiss Entrepreneurs Fund has had Finma approval since the end of January 2019.
