Swiss Venture Capital Report H1 2025 Update (Swiss Venture Capital Report (startupticker))

Summary

• The total number of financing rounds fell by 10.1% year-on-year to 124 rounds.p.2
• Biotech start-ups generated a record CHF 705 million in venture capital during the first half of the year.p.6
• Canton Basel-Stadt achieved a new record high of CHF 420.5 million in invested capital due to large biotech deals.p.8
• US investors participated in roughly a quarter of all financing rounds, accounting for over CHF 520 million of invested capital.p.9
• In a survey of Swiss VC investors, 49% expect the fundraising environment to decline over the next 12 months.p.13

Key insights

1. Sygnum Bank achieved unicorn status with a valuation exceeding USD 1 billion after securing a CHF 52.9 million funding round.p.5
2. Invested capital in the cleantech sector almost halved while its number of financing rounds fell by nearly 20%.p.6
3. Late-stage funding total dropped 5.5% year-on-year to CHF 660 million, remaining well below 2022 levels.p.7
4. Zurich recorded a decrease in total financing rounds from 60 to 49, even as its invested capital grew by over 80%.p.8
5. Araris Biotech was acquired by Taiho Pharmaceutical Co. at a valuation of over USD 1 billion.p.10
6. Swiss VC investors allocate 43.5% of their fund book value to seed stage companies.p.11