eNewsletter no. 318

26. Juli - 8. August 2012, Indien/China

Die meisten IPO, die grössten Kundenstämme, die höchsten Wachstumsraten: Wer von Indien und China spricht, benutzt meistens Superlative. Entwickeln sich Indien und China immer mehr zu einer Supermacht? Wie funktioniert der Finanzsektor vordergründig und hinter den Kulissen?

Wir werden in einem einmaligen und zugleich einzigartigem Programm vieles über Banking und Finance und die damit verbundenen zentralen Themen in den aufstrebenden Volkswirtschaften erfahren und mit zahlreichen Exponenten Gespräche führen.

Seit dem Start der Initiative «Pionier» vor sieben Jahren hat die Zürcher Kantonalbank rund 70 Millionen Franken in über 120 innovative Start-ups investiert. Neu erhöht die Bank das geplante jährliche Investitionsvolumen von 10 auf 15 Millionen Franken. Neu wird der Rahmen flexibilisiert und auf bis zu einer Million Franken ausgeweitet. Das geplante jährliche Investitionsvolumen soll von 10 auf 15 Millionen Franken gesteigert werden.

Die Zürcher Kantonalbank als Eigenkapitalgeberin beteiligt sich bei vielversprechenden Projekten auch am Eigenkapital. Dabei versteht sich die Bank als langfristige Investorin mit einem Zeithorizont von fünf bis acht Jahren. Anders als Venture-Capital-Firmen belässt die Zürcher Kantonalbank jedoch die Aktienmehrheit und die unternehmerische Handlungsfähigkeit beim Management; sie strebt keine VR-Mandate an und beteiligt sich auch nicht aktiv an der operativen Geschäftsführung. Die zu finanzierende Gesellschaft muss ihren Sitz im Wirtschaftsraum Zürich haben und ein absolut einzigartiges Produkt herstellen und/oder vertreiben.

The Commission for Technology and Innovation CTI invested CHF225 million last year in promoting innovation – almost twice as much as in 2010. The reason of course was the special measures taken against the strong franc. But this year it is not sticking to the regular funding: the Federal Department of Economic Affairs has already requested a supplementary credit for 2012 to the tune of CHF60 million to support innovation.

By the way, the start-up and entrepreneurship support agency, the management of which has been transferred from Urs Althaus to Faris Sabeti, reports that last year 26 new companies were certified with the CTI Start-up label. And these companies have been successful, with a success rate of 86 percent.

• CTI Activity Report 2011

Companies in the U.S. raised less money in fewer venture capital deals during the first three months of 2012 compared to the same period last year, according to data compiled by Dow Jones VentureSource. Some science-based sectors fared better than others during this period, while venture capital (VC) investors generally showed more interest this year in early-stage deals.

Overall, U.S. companies raised $6.3 billion in 717 deals during the first quarter of 2012 an 18 percent decline in dollars and 9 percent decline in deals from the the first quarter of 2011. The decline in investment activity was evident in the biopharmaceutical sector, which raised $523 million in 53 deals during Q1 2012, a drop of 46 percent in capital and 31 percent in the number of deals compared to 2011. Source

TaKaDu monitoring solutions enable high network efficiency and help reduce water losses: ABB, the leading power and automation technology group, announced this month its decision to invest in TaKaDu, a provider of advanced monitoring solutions for water distribution networks. The investment was led by ABB Technology Ventures, ABB’s venture capital arm in a $6 million funding round that also included existing TaKaDu investors Emerald Technology Ventures, Gemini Israel Funds and Giza Venture Capital.

UCC Holdings has entered into a formal agreement to acquire United Coffee, a Swiss provider of coffee products. Private equity firm CapVest Equity Partners will exit the target as a result of the purchase. The deal will bring the two companies together to create one of the world’s largest independent coffee companies.

Gota Ueshima, chief executive of UCC said: “With the sale of our gift company, Shaddy, last month we have refocused on our long-term strategy of developing a global coffee business. I am very excited that we have been able to acquire one of the greatest coffee companies in Europe and, together with United Coffee, we can create a truly international market- leading coffee group.” United Coffee is based in Geneva and provides a range of products including coffee machines, branded and private label coffees. It claims to be a market leader in the private label and single portion sector, serving 20.00 million cups a day throughout its 25,000 stores.

Castle Private Equity AG announced the termination of the share buyback programme that started in August 2011 to buy back up to 4% of its share capital for cancellation, as per 17 April 2012. The 2012 share buyback programme approved at the 12 April 2012 annual general meeting is currently being set up and will become active following publication of the March quarterly report on or around 15 May 2012.

Der Verwaltungsrat der ABTell Wertschöpfungs AG teilt mit, dass er sich per Ende März 2012 vom Geschäftsführer Sten Schreiber getrennt hat.

• LVMH redet mit Douglas, Private-Equity-Gespräche stocken, Kreise
• Private Equity: Hogan Lovells wächst in Düsseldorf mit Clifford-Counsel
• Private Equity-Gesellschaft HIG erneut in Österreich fündig geworden
• Mdexx will wieder kündigen

The 2012 Preqin Private Equity Fund of Funds Review is the ultimate guide to the private equity fund of funds universe, featuring detailed profiles for 240 fund managers, 25 listed funds of funds, 150 investors, and analysis and data on all aspects of the industry. Maintaining intelligence on the fund of funds sector is essential for all fund of fund managers, private equity firms seeking capital, investment advisors, institutional investors, placement agents, law firms, consultants and other private equity professionals.

The value of private equity investment globally fell this month, having shot up in February. Dealmaking activity in March stood at USD 19,783 million, a dip of 14 per cent from last month’s USD 22,937 million, which had been the highest since July 2011. This month’s figure was also substantially less than the USD 29,005 million recorded in the year-ago period. Source: Zepyhr

• Global Private Equity March 2012

23 april 2012: The Swiss Takeover Board has ascertained that Lazard GmbH is in the sense of art. 30 par. 6 TOO suitably qualified to prepare fairness opinions through public takeover offers. Verfügung 508/01 vom 13. April 2012

On 13/04/12 it was reported that Caerus AG (George Carter,Oberlunkhofen/Switzerland as Chairman) has acquired Datech Ltd, a technology solutions provider based in Somerset, UK, for an undisclosed consideration. Datech is known best for its subsidiary World Dating Partners, which will now operate along side Caerus' Dating Factory. Source: Zepyhr

On 20/04/12 it was reported that Glencore International AG may take over Blackthorn Resources Ltd, a Sydney, Australia-based zinc, gold, platinum and nickel miner and explorer, soon after a further stake acquisition. As Glencore currently owns 14.683 per cent in Blackthorn, there will be 85.317 per cent or approximately 109,050,483 shares to acquire under the potential public takeover. Based on Blackthorn’s closing share price of AUD 1.32 each on 18/04/12, the last trading day before the statement, the consideration can be estimated at AUD 143,9 mio. Source: Zephyr

On 20/04/12 it was reported that Kanoria Chemicals & Industries Ltd has entered into a share and loan purchase agreement to acquire APAG Holding AG, a navigation instruments manufacturer holding company based in Buchs, Switzerland. KCI will acquire a 90 per cent stake in the company for an initial consideration of CHF 6.39 million. The remaining 10 per cent will be acquired by 2014 based on a pre-fixed pricing formula. KCI will also assume APAG's CHF 1.3 million in debt. The deal is expected to complete in May 2012 and is subject to closing conditions. Source: Zephyr

On 23/04/12 it was announced that Riemser Arzneimittel AG has agreed to acquire a 49 per cent stake in Anwerina AG, a Kreuzlingen, Switzerland-based orthopaedic pharmaceuticals wholesaler. Anwerina is the successor of a former subsidiary of Warner Chilcott and Procter and Gamble Pharmaceuticals. Source: Zephyr

On 17/04/12 DSwiss AG (SecureSafe) announced that it has acquired VirtuWill LLC (trading as Entrustet), a Madison, Wisconsin-based digital estate planning and data asset storage services company. Financial terms were not disclosed. Source: Zephyr

On 29/04/12 it was announced that Trudel Fashion Group AG (Baar, Switzerland) has acquired a majority stake in Fabric Frontline Zurich AG, a Zurich, Switzerland-based silk fashion accessories manufacturer from founder Mr Andi Stutz. All employees will retain their positions at their current locations, including the four retail shops in Zurich, Vienna and Moscow. Remaining shareholders are Mr Andi Stutz and his sisters Ms Elsa and Ms Maya Stutz and Austrian investor Mr Erhard Grossnigg. Source: Zepyhr

Venture Capital-backed u-blox (SIX:UBXN), a leading fabless provider of positioning and wireless semiconductors, software and solutions, announces the acquisition of 4M Wireless at a price of approximately USD 9 million, depending on earn-out. 4M Wireless designs and develops leading software and test solutions that are crucial for developing fourth generation (4G) mobile wireless devices based on the latest Long Term Evolution (LTE) standards. 4M Wireless was founded in 2006 and has headquarters in the UK and operations in Lahore, Pakistan’s center for technology and higher education. The company has been profitable over the past 3 years. “4M Wireless adds leading edge know-how in the area of next-generation wireless technology that will operate over 4G networks worldwide” said Thomas Seiler, CEO of u-blox. “Their proven software and test solutions and impressive customer list also brings u-blox immediate new licensing revenues in Europe, Asia and America”.

On this place your Job ad could be published.

If you are interested please send an e-mail with you Job Ad, the company logo and a short description about the Job and/or the Company to Andrea Villiger.

• for SECA Members CHF 100.- CHF / 2 Weeks
• for Non-Members CHF 200.- / 2 Weeks

15 & 16 May 2012, IHK Frankfurt, Frankfurt am Main

Der BAI, als Verband und Vertreter der Alternativen Investmentindustrie in Deutschland, möchte mit der BAI Alternative Investor Conference (AIC) den Teilnehmenden die Möglichkeit des fachlichen Gedankenaustausches bieten und darüber hinaus maßgeblich dazu beitragen, dass das Thema Alternative Investments mit einem besseren Verständnis von der Öffentlichkeit aufgenommen wird. Die Konferenz bietet Produktanbietern, Investoren und Dienstleistern eine geeignete Plattform, um Erfahrungen auszutauschen und über neueste Erkenntnisse und Trends in der Industrie zu diskutieren.

SECA Member erhalten einen Rabatt von 20%. Bitte benutzen Sie hierfür das Anmeldeformular. Für weitere Informationen klicken Sie hier.

15. Mai 2012, SIX Swiss Exchange, ConventionPoint, Zürich

Am Dienstag, 15. Mai 2012, findet ab 13.00 Uhr in der SIX Swiss Exchange, ConventionPoint in Zürich eine Veranstaltung des Swiss Compliance Forum mit dem Titel "Nationale und internationale Finanzmarkregulierung" statt.

Sonderkonditionen für Mitglieder: Da wir Netzwerk Partner sind, profitieren Sie von Sonderkonditionen (CHF 190 statt CHF 240).
Bitte bei der Anmeldung entsprechend vermerken!

• Programm

 weitere Informationen und Anmeldung

23 May 2012, Lausanne

The Swiss Venture Forum’s unique programme allows business networking at the highest level, from high level panels and in-depth discussion via presentations from fast growing companies to private, pre-arranged One2One meetings.

A discount of 25% is available for all members of SECA, to obtain this promotion code please contact Marianne Zutter.

• Flyer

 further information

23 May 2012, Lausanne (Palace Beaulieu)

The Nanocom Investors Forum is a unique opportunity to meet the best latest nano tech-related business opportunities in early stage. 15 companies have been selected by the committee, and together with One2One meetings and international keynotes (Nanodimension, Lux Research).

A discount is already available for all SECA members, at 180CHF for the whole event (with the possibility to participate at the whole Swiss NanoConvention). Please contact Bernat Palou (bernat.palou (at) innobridge.com) to obtain the promotion code.

• Program

 more information

May 24, 2012, 09:00 – 17:30, ETH Zurich

The 37th Swiss Venture Day will take place in the morning (09:00 – 12:00). As usual, five to six CTI Start-up’s in early and late stages will present their business cases to investors and will seek to raise funds in the first-round financing.

The >>venture>> 2012 Investor Day will take place in the afternoon (13:00 and 17:30). The Investor Day is reserved for the top 20 teams in seed and early stages, participating in the business plan competition, based on the >>venture>> 2012 jury’s evaluation.

If you would like to attend, kindly register for one or both sessions at investorday.venture.ch until Friday, April 27, 2012.

• more Information

26. Juli - 8. August 2012, Indien/China

Die meisten IPO, die grössten Kundenstämme, die höchsten Wachstumsraten: Wer von Indien und China spricht, benutzt meistens Superlative. Entwickeln sich Indien und China immer mehr zu einer Supermacht? Wie funktioniert der Finanzsektor vordergründig und hinter den Kulissen?

Wir werden in einem einmaligen und zugleich einzigartigem Programm vieles über Banking und Finance und die damit verbundenen zentralen Themen in den aufstrebenden Volkswirtschaften erfahren und mit zahlreichen Exponenten Gespräche führen.

• SECA Annual General Meeting
  Wednesday, 16 May 2012, 16.30 – 18.00,
  Zurich, Widder Hotel
• 11. Swiss Private Equity & Corporate Finance Conference
  Wednesday, 4 July 2012, 12.00 – 18.30,
  Zurich, Convention Point SIX Swiss Exchange
• SECA Evening Event (Legal & Tax)
  Wednesday, 26 September 2012, 17.00 – 19.00,
  Zurich, Widder Hotel
• SECA Evening Event (Corporate Finance)
  Wednesday, 17 October 2012, 17.00 – 19.00,
  Zurich, Widder Hotel
• Top 100: Die besten Startups der Schweiz 2012
  Monday, 29 October 2012, 17.00 – 20.00,
  Zurich, Maag Halle (Härterei)
• SECA Evening Event (Seed Money & Venture Capital)
  Wednesday, 7 November 2012, 17.00 – 19.00,
  Zurich Widder Hotel
• SECA Evening Event (Outlook 2013)
  Wednesday, 12 December 2012, 17.00 – 19.00,
  Zurich Widder Hotel

• 08.05.12, Zürich
  - Go Beyond Half Day Training
  - Go Beyond Awareness Seminar
  - Go Beyond Investment Event
• 15.05.12, Zürich
  Nationale und internationale Finanzmarktregulierung
• 15.05.12, Frankfurt am Main
  BAI Alternative Investor Conference (AIC)
• 22.05.12, Lausanne
  Life Sciences Europe 2012
• 23.05.12, Lausanne
  Swiss Venture Forum
• 24.05.12, ETH Zürich
  >>venture>> 2012 Investor Day
• 5 June 2012, Zürich
  - Go Beyond Awareness Seminar
  - Go Beyond Investment Event
• 25./26.09.12, Luzern
  6. Intensiv-Seminar Mergers & Acquisitions
• 23.10.12, Zürich
  NZZ Equity cleantech day
• 24.10.12, Bern
  CTI Invest - 9th CEO Day

SECA eNewsletter is a free online newsletter published by Maurice Pedergnana, Managing Director of the SECA Swiss Private Equity & Corporate Finance Association, received by more than 3'000 email addresses. More information: www.seca.ch or +41 41 757 67 77 (Andrea Villiger). The eNewsletter archive service is available only for SECA members.