These venture capital firms have money for Swiss startups at their disposal

15.01.2024 10:10, João Guerra

Fundraising data reveals which Swiss and European venture capital investment firms have closed a new fund last year—and therefore have the money to invest in Swiss startups with a competitive edge.

2023 has been a turbulent year for venture capital. VC-backed exits have been significantly reduced and public listings have disappeared, impacting the ability of investors to realize returns on their investments. VC firms are also struggling to raise money for their funds. Some dealmakers have run out of funds and could be deemed zombie funds. Others, such as crossover investors, have stopped allocating to the VC asset class. Investors deployed capital more sparingly, with a higher bar at each stage

However, despite this apparent deceleration, opportunities still abound for startups. Having a look into the Swiss Venture Capital scene, indeed the activity has noted a clear difference compared to 2022, where almost 20 VC funds raised capital to support startups across different locations. In 2023, only a handful of VCs have closed a new fund, and therefore have new money to invest in top Swiss companies. Kickfund Ventures Fund I is the latest investment fund in Switzerland dedicated to supporting Swiss deep tech startups. The fund has successfully raised CHF 70 million in its first closing. The fund will provide up to CHF 850,000 per company to Venture Kick alumni.
 

Collateral Good Ventures	Climate Tech
Kickfund Ventures Fund	Deeptech
Maximom	Health
QAI Ventures	Quantum Computing, AI
SNGLR Capital	Smart Mobility, Smart Cities
Tenity	Insurtech, Fintech
Verve Ventures	Deeptech

The decline of active investors has been acutely felt at the later stages, where crossover capital is necessary to close the large check sizes needed for growth. Nevertheless, there are still plenty of opportunities for Swiss startups and scale-ups to raise capital from investors. We took a closer look at our fundraising data to determine which European venture capital investment firms have closed a new fund in 2023. Here is a list of 28 European Venture Capital firms with the largest raised funds (200 million and plus).
 

A/O	UK	Proptech
Acton Capital	Germany	B2B SaaS, Consumer Tech, Marketplace, E-commerce
Astanor Ventures	Luxembourg, Belgium	Foodtech, Agritech
Atomico	UK	Digital, Enterprise Data, Mobility, Financial and Industry Automation
AXA Venture Partners	France	Insurtech, Fintech, Digital Health, Enterprise Software
Bootstrap Europe	Luxembourg	B2B SaaS, Green Energy, Deeptech, Fintech and Smart Cities
Dawn Capital	UK	B2B SaaS
Elaia	France, Spain, Israel	Digital Assets
Eurazeo	France	Sustainable Cities
Generali Ventures	Italy	Insurtech, Fintech
Highland Europe	UK, Switzerland	Software
HTGF	Germany	Digital, Industrial, Life Sciences, Chemistry
HV Capital	Germany	General
IQ Capital	UK	Deeptech
Isomar Capital	UK	General
Just Climate	UK	Climate-Tech
Keensight Capital	UK	Healthcare
La Famiglia	Germany	B2B-SaaS
Leadwind	Spain	Deeptech
Medicxi	UK, Switzerland	Life Science
NordicNinja VC	Finland	Climate Tech, Deeptech, Digital Society
Notion Capital	UK	Software, Fintech
Oakley Capital	UK	Business Services, Digital Consumer, Education
SET Ventures	Netherlands	Cleantech
SHS Capital	Germany	Healthcare
Tikehau Capital	France	Cybersecurity
Verdane	Norway	Digital
Yttrium	Germany	Industry and Financial

It's crucial to highlight that capital is still available for startup founders, especially at the early stage. While VCs might be more selective, they continue to invest in promising startups with solid business models, innovative solutions, traction, and robust growth potential. Stefan Steiner, Co-Managing Director at Venturelab states "Entrepreneurs need to adapt to the evolving dynamics and leave behind the "growth at all costs" attitude. Founders who demonstrate product-market fit, traction, and a clear path toward profitability are also able to raise growth capital in 2024. Based on my investor experience a recovery for VC and startup funding will come, but it is more likely to happen in 2025."

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Are any funds missing from our list? Get in touch and let us know.