SECA Yearbook 2023 (SECA (Swiss Private Equity and Corporate Finance Association))

Summary

• SECA represents more than 500 members including investment companies, banks, corporate finance advisors, auditing firms, lawyers, and private investors in Switzerland.p.2
• Global private market assets under management exceeded US$ 12.8 trillion, with dry powder exceeding US$ 2 trillion.p.8
• Traditional IPOs or direct listings in the US and Europe with a market cap of at least CHF 50 Mio. declined by 59.6% to 513 deals.p.9
• Switzerland recorded a new record high of 65 exits, including almost 50 Swiss ICT start-ups sold to larger companies.p.19
• A total of 55 venture capital funds were in the fundraising phase at the end of 2022, with the majority targeting over CHF 100 million.p.19

Key insights

1. The market capitalization of global banks fell by more than US$ 2 trillion within a few weeks following rapid interest rate increases.p.8
2. Global private market dry powder stands at more than US$ 2 trillion, enabling investments at lower asset prices.p.8
3. Traditional IPOs and direct listings in the US and Europe dropped 59.6% to 513 transactions for companies valued at CHF 50 Mio. or higher.p.9
4. SECA membership remained stable at 541 members, placing it seventh among private equity and venture capital associations worldwide.p.10
5. Swiss biotech venture funding experienced a 47% decline down to CHF 403 million in invested capital.p.18
6. The Swiss ICT sector attracted CHF 1.1 billion in venture funding, with fintech alone contributing CHF 909 million.p.19