eNewsletter no. 466

22 November 2016
   

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Dear Reader

Turkeys are nice birds. When the European immigrants first hit on America, the Indians had already domesticated them. That was easy, they said, „they always turned up when we harvested our maize“. The European immigrants soon came to appreciate the beautiful bird. Benjamin Franklin, one of the founding fathers of the United States of America, much preferred the turkey to the Bald Eagle as national emblem, because, he argued,  the Bald Eagle was of bad moral character, a thief stealing fish from the Fish Hawk and a coward to boot.

His countrymen called Benjamin Franklin a turkey and voted for the scoundrel bird, and so the Bald Eagle made it to the coat of arms and the turkey to the pot. Countless turkeys are fattened for Thanksgiving, some pampered with extra bonuses and extra helpings of maize, and the biggest and fattest makes it to the White House, where the press flatters it and it is greatly honored.

At its proudest moment a Black Swan event will hit the turkey, an unforeseen disaster that will wipe out its future forever. Custom wants the President to pardon the honorable member of the fowl community, but I believe it meets the fate it got raised for. It gets killed and stuffed and roasted and eaten.

Have a nice Thanksgiving Day!
Maurice Pedergnana

 
 
 

SECA

 
   

Interesting Report about European VC

The European Investment Fund (EIF) is a specialist provider of risk finance to benefit small and medium-sized enterprises (SME) across Europe. By developing and offering targeted financial products to its intermediaries, such as banks, guarantee and leasing companies, micro-credit providers and private equity funds, the EIF enhances SMEs access to finance. EIF is the leading institution in the European venture capital market. EIF focuses on the establishment of a sustainable venture capital Ecosystem in Europe supporting innovation and entrepreneurship. It concentrates on building the necessary private sector venture capital infrastructure to address market gaps and opportunities with the aim to further enhance the attractiveness of European venture capital as an alternative asset class.

 
 
 

SECA formation - Cycle de cinq formations dédiées au capital-investissement (private equity)

La SECA (Swiss Private Equity and Corporate Finance Association) et l’AFIC (Association Française des Investisseurs pour la Croissance) se sont associées pour offrir en Romandie un cycle de cinq formations dédiées au capital-investissement (private equity) et destinées à un vaste public, allant des nouveaux entrants dans le monde du capital-risque (venture capital), capital-développement, leveraged buy-out, ou encore fonds de fonds; aux professionnels du middle et du back office, mais aussi aux chargés d’affaires et professionnels souhaitant approfondir leurs connaissances.

Dates et lieux :

  • Les bases du capital-investissement
    Lundi 31 octobre 2016, FER, Rue de St-Jean 98, Genève
    Cyril Demaria, Formateur HEC, EDHEC, AFIC
  • Due-diligences financières
    Vendredi 25 novembre 2016, Argos Soditic, Genève
    Cédric Bruix, Argos Soditic – Xavier Robinot, RSM Genève
  • Valorisation des entreprises
    Jeudi 26 janvier 2017, ValleyRoad Capital SA, Gland
    Pierre Kladny, ValleyRoad Capital SA
  • Pactes d’actionnaires
    Mercredi 8 février 2017, Lenz & Staehelin, Genève
    Andreas Rötheli, Lenz & Staehelin
  • Management Package
    Jeudi 23 mars 2017, FER, Genève
    Marc Deschenaux, Deschenaux, Hornblower & Partners

Horaire : 9h00/17h30
Renseignements :
marianne.zutter@seca.ch - +41 79 210 11 70
Bulletin d’inscription :
www.seca.ch/events

 
 

SECA Evening Event: Private Equity Investoren – Dichtung und Wahrheit

Mittwoch, 23. November 2016, Widder Hotel, Zürich

Private Equity Investoren – Dichtung und Wahrheit Podiumsdiskussion mit zwei Fallbeispielen: Toga Food SA und R&S Gruppe

Speakers und Podiumsteilnehmer

  • Thomas Gabathuler, Geschäftsführer, Toga Food SA
  • Marc Aeschlimann, Geschäftsführer, R&S Gruppe
  • Dr. Karl Spielberger, Managing Partner,
    Orlando Management Schweiz AG
  • Dr. Rolf Lanz, Managing Partner, CGS Management AG

Moderation

  • Prof. Dr. Maurice Pedergnana, General Secretary, SECA
 
 

SECA Events - save the date

Reservieren Sie sich bereits folgende Daten:

  • SECA Conference, SIX ConventionPoint, Zürich
    Mittwoch, 5. Juli 2017
  • 6. SECA Private Equity Workshop
    3./4. und 17./18. November 2017
 
 
 
 
 

Venture Capital

 
   

Media Monitoring

 
 
 

Aye Finance secures second round funding from LGT Impact Ventures and others

On 21/11/16 it was announced that Aye Finance Pvt Ltd, a Gurgaon, India-based micro enterprises loan provider, has secured INR 700 million in its Series B (second round) funding led by LGT Impact Ventures, with participation of SAIF Advisors Ltd (SAIF Partners) and ACCION Investment Management Company. Source: Zephyr

 
 
 

dacadoo’s digitale Gesundheitsplattform gewinnt drei Awards in einer Woche

dacadoo, das im Bereich der mobilen Gesundheit tätige Schweizer Unternehmen, wurde als einer der Gewinner des BeWell Challenge Awards und des Digital Health Global 100 Awards ausgezeichnet und gewann Bronze an den Best of Swiss Apps Awards. Am 15. November 2016 ehrte das internationale Journal of mHealth dacadoo als eines der 100 innovativsten digitalen Gesundheitsunternehmen der Welt mit dem Digital Health Global 100 Award.

 
 

Ava receives Series A funding

On 16/11/16 it was announced that Ava AG, the Zurich, Switzerland based ovulation tracking bracelet manufacturer, has received USD 9.7 million in first round (Series A) funding. The funding round was led by Polytech Ventures. Blue Ocean Ventures SA and Global Sources Ltd have participated as well as existing investors Swisscom Ventures (the finance arm of Swisscom AG) and Zurcher Kantonalbank. Source: Zephyr

 
 
 

Clinerion's Patient Recruitment System Matches Patients with Precision Medicine Treatments.

Clinerion announced a new service and use case for its Patient Recruitment System (PRS). The PRS Patient Finder tool can now be used to give patients requiring personalized, precision, or orphan treatments access to new medicines earlier, and give physicians additional options in treating them. With the PRS Patient Finder tool’s new service, patients with rare conditions can benefit from new treatments on the market and they can access these treatments earlier. For more on Clinerion’s Patient Recruitment System.

 
 

investiere schliesst Finanzierungsrunde für Agritech startup ecoRobotix ab

Investiere.ch hat den Abschluss der Finanzierungsrunde von ecoRobotix bekanntgegeben. Nebst investiere hat der neugegründete Fonds 4FO Ventures daran teilgenommen. Mehr Informationen dazu im Blogbeitrag.

 
 

FinTechs in collaboration with banks

Around 19 billion dollars were invested in FinTechs the world over in 2015 – up nearly 60 percent on the previous year. As investors see it, technology-driven start-ups with innovative products and services are set to grab market share from banks and insurance companies. Yet it is clear that FinTechs do not see themselves as merely rivals to the established companies: 86 percent of start-ups want not confrontation but cooperation with industry leaders. And one third do not believe that they will be in a position to replace traditional financial institutes. The main benefit that start-ups anticipate achieving out of collaboration is access to a broader customer base (78%). These are some of the findings of the latest Roland Berger study, entitled "FinTechs in Europe – Challenger and Partner", in which the consultancy polled the opinions of 248 FinTechs across 18 European countries.

 
 

Brigitte Baumann is named one of Europe’s top 50 influential women article

Brigitte Baumann from Go Beyond is named one of Europe’s top 50 influential women. Go Beyond Investing enables individuals to access angel investing as an asset class through its unique platform, tools, training and expert angels.

 
 

Nutmeg Saving and Investment secures funding from Daniel Aegerter

On 14/11/16 it was announced that Nutmeg Saving and Investment Ltd, a London, UK-based online discretionary investment management firm has secured GBP 30 million in a round of funding led by Convoy Financial Holdings Ltd along with existing backers, including Schroder Investment Management Ltd, Balderton Capital (UK) LLP, Pentech Capital LLP, Armada Investment AG (Daniel Aegerter, Chairman) and Mr Nigel Wray. Source: Zephyr

 
 
 

PPF Group leads Series B funding round in NBE-Therapeutics

On 03/11/16 it was announced that NBE-Therapeutics AG, a Basel, Switzerland-based antibody-based drug research services provider, has received CHF 20 million in a Series B funding round led by PPF Group NV. Boehringer Ingelheim Venture Fund GmbH (managed by Boehringer Ingelheim GmbH), existing and new investors have participated in the transaction. Source: Zephyr

 
 

Temasek Holdings has taken a minority stake in AC Immune

On 14/11/16 it was announced that, in the third quarter of 2016, Temasek Holdings Pte Ltd (Singapore's sovereign wealth fund) has acquired 1,337,500 shares in AC Immune SA, a Lausanne, Switzerland-based Biotechnology research and development services provider for a total deal value of USD 22 million (2.5 per cent). Temasek did not hold any shares in the target before this deal. Source: Zephyr

 
 
 

Urs Wietlisbach takes an equity stake in Nectar Financial

Urs Wietlisbach, co-founder and member of the Board of Directors of Partners Group, has decided to take a minority equity stake in Nectar Financial. Further, the family office of the founders of Partners Group becomes a client of the Nectar Financial platform.

 
 

Venture Kick erhält mit Engagement Migros neuen starken Partner

Der Förderfonds Engagement Migros unterstützt als erster Gründungspartner der Standortinitiative digitalswitzerland neu das Programm Venture Kick. Damit leistet Engagement Migros weitere Pionierarbeit in der Unterstützung hoch-innovativer Geschäftsideen und Startups in der Schweiz.

 
 
 
 

Private Equity – Swiss News

 
   

HgCapital to invest in fundinfo

On 17/11/16 it was announced that HgCapital LLP, via its fund HgCapital Mercury Fund is to make a significant minority investment in fundinfo AG, a Zurich, Switzerland-based online fund information database operator. Completion of this transaction is subject to FINMA approval. Source: Zephyr

 
 

Spice Private Equity - discount expansion up to 40 per cent

The monthly factsheet for 31 October 2016 of Spice Private Equity Ltd documents the increase of its discount.

 
 

Castle Private Equity - October 2016 NAV increased to USD 16.7 per share

CastlePE's net asset value increased slightly during October. The positive monthly investment result was driven by valuation increases and exits throughout the portfolio, namely the write up in valuation for Red Rock Resorts by OCM Principal Opportunities IV and QuintilesIMS by TPG VI.

 
 
 
 

Private Equity – Int. News

 
   

Media Monitoring

 
 
 

Novartis acquires Selexys Pharmaceuticals

On 21/11/16 it was announced that Novartis AG has acquired Selexys Pharmaceuticals Corporation, an Oklahoma City, Oklahoma-based inflammatory and thrombotic disease biopharmaceuticals research and development services provider. The aggregate consideration could total up to USD 665 million, including milestone payments. The deal provides an exit for MPM Capital LP. Source: Zephyr

 
 

SHS erwirbt Homecare-Unternehmen medigroba

SHS, die in der DACH-Region investiert, hat die medigroba GmbH übernommen. Die Transaktion wurde zusammen mit zwei erfahrenen Branchenexperten durchgeführt, die das neue Managementteam bilden. medigroba ist ein Homecare-Unternehmen mit Sitz in Balingen (Baden-Württemberg). SHS plant, die Gesellschaft zu einem führenden deutschen Anbieter von Hilfs- und Pflegemitteln auszubauen. Dazu sollen sowohl das organische Wachstum vorangetrieben als auch gezielte Akquisitionen durchgeführt werden.

 
 

The German Private Equity Market

Preqin analyzed the German private equity market, including fundraising, deals, performance and investors, using data from the recently launched Preqin Special Report: Private Equity in Germany.

 
 
 
 
 

Corporate Finance

 
   

Misinformation concerning Fasa AB and Egli AG

In the latest edition of SECA Newsletter (No. 465) we published a wrong information which could mislead the readers. Fasa AB and Egli AG have recently joined forces in technology, quality assurance, and sales. No acquisitions have been implemented and both companies operate separately, regardless the new joint logo.

 
 

Valuation Market Essentials Switzerland

EY‘s Valuation Market Essentials Switzerland brochure summarizes relevant market data that is regularly used in valuations. It is aimed at finance professionals that regularly deal with valuations and corporate finance related topics. The analysis is based on the constituents of the Swiss All Share Index (excluding banks, insurance companies and real estate companies) and data from S&P Capital IQ/Oxford Economics.

 
 

Guntensperger to acquire Schaeffler Schweiz' fineblanking business

On 21/11/16 it was announced that Schaeffler Schweiz GmbH, a subsidiary of Schaeffler AG, is to sell its fineblanking business to Alois Guntensperger AG for an undisclosed consideration. The transaction is expected to complete by 30/06/16. Source: Zepyhr

 
 
 

Investnet acquires AdRom stake

On 15/11/16 it was announced by one source that Investnet AG has acquired a 35 per cent stake in AdRom Holding AG, the Vaduz, Liechtenstein based digital marketing services provider holding company, for an undisclosed consideration. Source: Zephyr

 
 
 

Valres Fund Management to increase its capital

On 08/11/16 it was announced that Valres Fund Management SA, a Geneve, Switzerland-based real estate funds management services provider, has agreed to carry out a capital increase of CHF 70.1 million (for a subscription price of CHF 112 apiece) meant for institutional investors. The capital increase will take place from 16/11/16 to 30/11/16. Source: Zephyr

 
 
 
 

Mergers & Acquisitions

 
   

Monthly Cleantech M&A Activity Report

The following report details mergers and acquisitions activity in the cleantech sector in October 2016 using data from the Zephyr database.

 
 

Monthly Biotech M&A Activity Report

The following report details mergers and acquisitions activity in the biotech sector in October 2016 using data from the Zephyr database.

 
 

Crednology Holding acquires Riteman and Landmark PMG from 4Service Cloud Tech

On 31/10/16 it was announced that on 14/10/16 Crednology Holding Corporation acquired Riteman Inc., a Gardena, California-based disaster recovery services company, and Landmark PMG LLC dba ITatOnce, a San Diego, California-based managed IT and related consultancy services provider, from 4Service Cloud Tech AG. Source: Zephyr

 
 
 

Farner Consulting acquires YJOO Communications from Mr Martin Zahner and other shareholders

On 10/11/16 it was announced that Farner Consulting AG agreed to acquire YJOO Communications AG, a St Gallen, Switzerland-based public relations firm from its majority shareholder, Mr Martin Zahner and other shareholders. The consideration of the transaction was not disclosed. The transaction is expected to complete sometime at the start of 2017. Source: Zephyr

 
 

Interroll to acquire Ortner's sheet processing and coating business

On 11/11/16 it was announced that Interroll Holding AG is to acquire the sheet processing and coating business of Orner GmbH, the Kronau, Germany based metal components manufacturer. The transaction is to complete on 01/12/16. Source: Zephyr

 
 

Medbase has bought Checkup Center Zurich

On 08/11/16 it was announced that Medbase AG has bought Checkup Center Zurich AG, a Zutich, Switzerland-based workplace medical checks services provider. Source: Zephyr

 
 

Patrimonium to acquire majority in CCS Group Holding and SMB Holding via ZM Opportunity

On 09/11/16 it was announced that ZM Opportunity II LP (a company operated by Patrimonium AG) is to acquire a majority in CCS Group Holding AG, a Rotkreuz, Switzerland-based investment services holding company and SMB Holding AG, a Rotkreuz, Switzerland-based investment services holding company (including its subsidiary SMB SA). The transaction is subject to approval from Bundeswettbewerbsbehorde. It was announced in another deal that ZM is to acquire a minority stake in Bauwerk Boen AG. Source: Zephyr

 
 
 

Plan.Net Suisse agrees to acquire INM from Mr Philipp Sauber

On 08/11/16 it was announced that Plan.Net Suisse AG agreed to acquire INM AG, a Wetzikon, Switzerland-based online business marketing firm from its owner Mr Philipp Sauber in a transaction described as a merger. The consideration of the transaction was not disclosed. Post-transaction, the combined company will trade under the name Plan.Net Suisse AG. The transaction will complete on 01/01/17. Source: Zephyr

 
 

Tamedia to acquire ImmoStreet.ch

On 03/11/16 it was announced that Tamedia AG (for its Advertising division) is to acquire ImmoStreet.ch SA, a Lausanne, Switzerland-based online property rent and buy advert platform operator. The transaction is expected to complete on 01/01/17. Source: Zephyr

 
 
 
 
 

Jobs

 
   

How to publish a job ad

On this place your Job ad could be published.

If you are interested please send an e-mail with your job ad, the company logo and a short description about the Job and/or the Company to info@seca.ch.

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

Agenda

 
   

GesKR-Tagungen - FIDLEG und FINIG

  • Tagung 1: Das neue Prospektrecht gemäss FIDLEG
    Dienstag, 1. November 2016 / 09.00–13.45 Uhr
  • Tagung 2: FIDLEG und FINIG (ohne Prospektrecht)
    Freitag, 2. Dezember 2016 / 09.00–17.00 Uhr

Im November 2015 verabschiedete der Bundesrat die Botschaft zum Finanzdienstleistungsgesetz (FIDLEG) und zum Finanzinstitutsgesetz (FINIG), welche zusammen mit dem Finanzmarktaufsichtsgesetz (FINMAG) und dem auf Anfang dieses Jahres in Kraft getretenen Finanzmarktinfrastrukturgesetz (FinfraG) die vier Säulen der künftigen Architektur des schweizerischen Finanzmarktrechts bilden sollen. Derzeit wird davon ausgegangen, dass die beiden Gesetzesprojekte noch dieses Jahr vom Ständerat als Erstrat beraten werden. Die beiden Tagungen setzen sich zum Ziel, den Teilnehmerinnen und Teilnehmern einen Überblick über die beiden Gesetzesprojekte und deren aktuellen Stand zu verschaffen.

 
 

Private Equity Exchange & Awards

Thursday, 8 December 2016,Le Merdien Etoile Hotel, Paris

The next Private Equity Exchange & Awards will be held in Paris on December 8, 2016. The Private Equity Exchange & Awards is the largest Paneuropean event on Private Equity and Restructuring, gathering more than 1,200 high-profile participants. The summit is followed by an exquisite evening ceremony with 400 Private Equity leaders, rewarding the best performers of LBO, Funds, Limited Partners and Management Teams.

SECA has 20 free passes for Institutional Investors and Private Equity Funds Managers at its disposal - first come first serve. In order to request a free ticket, please contact Fabian Kuhn.

 
 

Journée du Conseil d’administration

Lausanne, le 9 février 2017, Lausanne

La Journée du Conseil d’administration s’adresse aux membres de conseils d’administration et de directions générales d'entreprises cotées et non cotées de Suisse Romande et leur propose un forum pluridisciplinaire de qualité consacré à la fonction d’administrateur.

 
 

Zurich Economic Impulse

Mittwoch, 29. und Donnerstag, 30. März 2017, Zürich

Am 29./30. März 2017 begrüssen wir Sie zum ersten ZURICH ECONOMIC IMPULSE. Vernetzt – informiert – überrascht: Das ist unser Versprechen an Sie, wenn Sie Teil der exklusiven Kompetenz- und Austauschplattform zwischen Politik, Wirtschaft und Wissenschaft werden. Unter dem Titel «Herausforderung der Glokalisierung» diskutieren hochkarätige Vertreter aus Wirtschaft, Politik und Wissenschaft die globale Vertrauenskrise, welche 2016 mit dem BREXIT und der Wahl von Donald Trump zum amerikanischen Präsidenten ihren vorläufigen Höhepunkt erreicht hat.

15% Rabatt für SECA-Mitglieder. Anmeldungen mit dem Vermerk "SECA-Mitglied" bitte direkt an info@zeimpulse.ch.

 
 

Upcoming SECA Events - save the date

  • Valorisation des entreprises
    Jeudi 26 janvier 2017, ValleyRoad Capital SA, Gland
    Pierre Kladny, ValleyRoad Capital SA
  • Pactes d’actionnaires
    Mercredi 8 février 2017, Lenz & Staehelin, Genève
    Andreas Rötheli, Lenz & Staehelin
  • Management Package
    Jeudi 23 mars 2017, FER, Genève
    Marc Deschenaux, Deschenaux, Hornblower & Partners
  • SECA Conference, SIX ConventionPoint, Zürich
    Wednesday, 5 July 2017

More information will follow in due time. Please see also on www.seca.ch - Events.

 
 
 
 
 

Editor

 
   

Editor

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 4'000 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.

 
 
 
 
 

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