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Swiss firms raise more venture capital

More venture capital deals are being made in Switzerland

(Keystone Archive)

The top four European countries to raise venture capital in the second quarter of 2004 were Switzerland, France, Britain and Germany (in reverse order).

Based on volume, Switzerland moved up from fifth to fourth place in the quarterly ranking of venture capital raised in Europe, which is published by Tornado Insider Research.

More than a billion euros were raised across Europe over the same period.

Innovative firms in the Swiss market attracted more than €85 million (SFr130 million) from venture capital firms, said Tornado Insider in a statement. That is a marked increase over the first quarter when SFr89 million was raised.

The increase is due to several large biotech deals. For example, pre-IPO candidate Arpida, based in Basel, and Addex Pharmaceuticals of Geneva, each raised about SFr50 million from syndicates of international investors.

The Swiss market closed the quarter ahead of Ireland (€70 million), Sweden (€61 million), Denmark (€59 million) and Spain (€57 million), and only slightly behind France, which netted €100 million in venture capital in the second quarter.

Germany and Britain represented the top two performers in the quarter, each raising more than €223 million in venture capital. Tornado Insider tracks only announced transactions.

by Valerie Thompson


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