200 million francs to celebrate its 200th anniversary: The Swiss bank Credit Suisse announced on the anniversary of its founding father Alfred Escher that it will invest more in venture capital than before. Instead of the currently estimated 130 million francs, future 200 million francs will flow into various fields of activity.
Fintech, Medtech, Robotics
The responsible “Credit Suisse Entrepeneur Capital AG” intends to use the additional capital to invest in fintechs and start-ups in the robotics, automation and medtech sectors, among others. Even established companies that need capital for growth and expansion investments should benefit. Likewise, job security benefits money from businesses with a strong regional significance in Switzerland.
“Implementing visions and facilitating progress requires capital. Especially younger companies at the beginning of their life cycle need venture capital in order to be able to market and expand their ideas”said Didier Denat, Chairman of the Board of Directors of Credit Suisse Entrepreneur Capital AG in a press release. It should not only be invested in the companies themselves, but the big bank also want to contribute to Switzerland remaining a world-leading innovation and business location in the future.
Profitable business
Investments in Fintech & Co. are expected to reach between CHF 250,000 and CHF 8 million. According to Elios Elsener, CEO of Credit Suisse Entrepreneur Capital AG, an average of 15 financing inquiries are made per week, and the trend is rising. A total of 52 of the requests have been realized so far. Elsener further explained that since 2010 various holdings could be resold with profit. The “vessel” is profitable and carries itself economically.
Recently, Credit Suisse, together with Swiss UBS, had just launched the Swiss Entrepreneurs Fund. It is aimed at startups and SMEs with a financing requirement of up to 20 million francs.
Incidentally, Switzerland is also regarded as particularly open and progressive in terms of blockchain and cryptocurrency trading. Many industry representatives are based in Switzerland. The city of Zug has already been named “Crypto Valley”.
Also published on Medium.