Swiss venture capital investment picks up
Innovative startup companies in Switzerland raised SFr216 million ($172.4 million) last year.
It was the lowest total in the past three years. But the sector held its own the European ranking, coming fifth overall.
Switzerland is in fifth place in Europe with 5.8 per cent of the total venture funding announced in 2003, the same amount Switzerland raised in the previous year, according to Tornado Insider Research.
In total, €2.5 billion ($3.14 billion) in venture capital funding was raised by 599 European companies in 2003.
In the top spot was the United Kingdom (34.5%), followed by Germany (16.8%), France (12%), and Sweden (6%). The ranking is based on the amount of venture capital raised by innovative firms in each country compared to the total raised in Europe.
Swiss companies reported raising SFr216 million representing 20 firms, according to Tornado Insider Research. In 2002, 52 firms raised SFr477 million and a total of SFr432 million was raised by 49 companies in 2001, according to the same database.
Investment upswing
It appears that the investment slump that began three years ago bottomed out in the third quarter of 2003, based on the upswing in deals closed in the past two months. A growing list of firms raised capital since early December, representing some SFr80 million.
The real number is slightly higher, as at least three firms have confirmed to Swiss Venture that they raised capital in the past two months but are not making the deals public at this time.
Companies to announce venture rounds, include Nemerix, which closed a second round of SFr8.4 million from its existing investors, ACOL Technologies, which closed a first round at SFr14 million from top-tier European venture firms, and Wisekey raised SFr8.75 from earlier investors.
The Genetics Company raised SFr10 million, while esmertec pulled in SFr35.5 million.
Even early stage companies found investors. Geneva-based idQuantique raised SFr1.5 million in capital from i2i. Zurich-based Exalor, emerging from now-defunct Opto Speed, raised capital from NetInvest and Gustav A Wirz, and EyeP Media raised SFr 2.5 million from Endeavor advisors, as well as undisclosed private investors.
Valerie Thompson
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