SECA Yearbook 2022 (SECA (Swiss Private Equity and Corporate Finance Association))

Summary

• European private equity deal activity reached more than EUR 754 billion in 2021, moving well above trend growth.p.8
• Invested venture capital in Switzerland rose to over CHF 3 billion across 355 financing rounds in 2021.p.8
• Global private equity held USD 3.4 trillion of uncalled capital (dry powder) to weather market volatility.p.9
• SECA's membership base grew to 568 members, reflecting an average 12 year compounded annual membership growth rate of 4.7%.p.10
• Swiss venture capital investments increased by 44% in 2021, driven by fintech and biotech which represented 28% and 25% of invested capital respectively.p.18
• In 2020, the cleantech sector contributed 4.5% of Swiss GDP and employed 211’000 people.p.18

Key insights

1. European private equity deal volume exceeded EUR 754 billion in 2021 as economic recovery accelerated.p.8
2. Global venture funding reached a record high of $621bn in 2021, compared to $291bn in 2020.p.18
3. Zurich and Vaud accounted for 42% and 20% of Swiss venture capital invested capital in 2021 respectively.p.18
4. Amendments to BVV2 regulation allow Swiss pension funds to allocate up to 5% of their total assets into venture capital.p.19
5. A Preqin study revealed that 87% of surveyed institutional investors met or exceeded their private equity return expectations.p.20
6. The revised Swiss Collective Investment Schemes Act introduced the Limited Qualified Investor Fund (L-QIF), eliminating the need for FINMA product approval.p.30
7. Global private equity funds hold an estimated USD 2.3 trillion in uninvested capital reserves.p.44