Swiss Venture Capital Report Update H1 2020 (Swiss Venture Capital Report (startupticker))

Summary

• During the first half of 2020, CHF 763 million was invested into Swiss start-ups across 105 financing rounds.p.2
• The median value for all financing rounds in the first half of 2020 reached CHF 3.9 million, showing a 20% increase compared to the previous year.p.2
• Scandit secured the highest financing amount among the top 10 start-up investments at CHF 77.7 million.p.4
• The ICT sector commanded the largest share of invested capital in H1 2020 at 36.6%.p.6
• The total number of financing rounds across Western Europe and Scandinavia in H1 2020 was a good 40% lower than in H1 2019.p.8

Key insights

1. Venture capital investment activity in Swiss start-ups remained resilient, growing 20% in transaction count despite lockdowns and travel restrictions.p.3
2. Medtech start-ups saw strong momentum with four separate financing rounds surpassing CHF 20 million in H1 2020.p.6
3. Domestic Swiss investors significantly expanded their participation during the crisis, whereas capital contributions from the US and Germany declined.p.7
4. Two-thirds of surveyed Swiss fund managers anticipated delays between one and six months in closing their active funds.p.10
5. Three-quarters of surveyed fund managers reported lower start-up valuations in the first half of 2020 relative to pre-pandemic levels.p.11
6. M&A activity for Swiss start-ups ground to a near standstill between February and May, showing initial signs of recovery only in June.p.13
7. ADC Therapeutics successfully completed an IPO on the Nasdaq on 15 May 2020, raising USD 267 million with a valuation exceeding USD 3 billion.p.14