Swiss Venture Capital Report H1 2024 Update (Swiss Venture Capital Report (startupticker))

Summary

• Biotech attracted the highest amount of capital among all sectors at CHF 405.3 million, representing a 44% increase in invested capital.p.6
• Early stage investments performed strongly with CHF 344 million raised across 56 financing rounds, a total capital increase of about 60%.p.7
• Later stage investments dropped significantly to 26 rounds compared with 45 rounds in the first half of 2023.p.7
• Startup exits remained depressed at 20 transactions, matching the low level recorded in the previous year.p.2

Key insights

1. The CHF 121 million decline in total invested capital was primarily driven by a CHF 113 million decrease in the top three financing rounds.p.3
2. Venture capital funding for the ICT and fintech sector dropped by more than 40%, placing ICT behind biotech and medtech in capital raised.p.6
3. Canton Bern set a new investment record with CHF 98.5 million raised, driven by growth in cleantech and medtech.p.8
4. Investors acquired an average equity share of only 11% in later stage rounds, indicating an increased prevalence of bridge financing.p.9
5. Half of surveyed venture capital firms hold an average of 60% of their funds as uninvested dry powder for the coming two to four years.p.11
6. Trade sales to strategic buyers accounted for 35% of all startup exit transactions over the past three years.p.13