Swiss commerce minister announces CHF 500m VC fund

Schneider-Amman told Swiss Newspaper NZZ am Sonntag that between CHF 200-300m has already been secured in commitments from Credit Suisse, Mobiliar and UBS. Insurance company Helvetia Group has also made a contribution.

The minister told the newspaper he was responsible for arranging the project and bringing the relevant parties together, though all the financing will come from private sources.

The fund will invest with ticket sizes of €3-15m. Schneider-Amman said that foreign investors often provide funding in this range and startups and technology are therefore lost to the US or Germany. The aim of this initiative is to keep them in Switzerland.

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• Venture