eNewsletter no. 514

07 October 2019
   

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Dear Reader

It is 250 years ago that Friedrich Wilhelm Heinrich Alexander von Humboldt was born, a man of boundless curiosity who believed that the earth was there to be discovered by people like him. European scientists measured and documented whatever they could, and wherever they went, they mapped territories hitherto unknown to them and named them in honor of their sovereigns. Some lands looked empty and forbidding and were not explored at length, as it seemed unlikely that people lived there. „Hic sunt leones “ wrote the old cartographers, only lions live here. The lions smiled at that.

Have a nice week!
Maurice Pedergnana

 

 
 
 

SECA

 
   

SECA Breakfast Event: Dynamik in der Spitalfinanzierung

Dienstag, 15. Oktober 2019, Zürcher Kantonalbank, Atrium, Zürich

Hugo Keune (Universitätsspital Zürich) und Patrick Hasenböhler (Zürcher Kantonalbank) berichten von ihren Erfahrungen zu diesen Themen. Anschliessend werden in einer Pa-nel-Diskussion weitere Experten aus ihrer Praxis berichten.

 
 

SECA Seminar: Private Markets

Institutionelle Investoren können Private Markets nutzen, um ihre Rendite zu steigern und durch zusätzliche Diversifikation ihr Risiko zu optimieren. Doch wie funktionieren Investitionen in Privatmarktanlagen? Das SECA Seminar gibt einen Einblick in diese breite, vielfältige Anlageklasse.

 
 

SECA Evening Event: Schweizer VCs on Stage

Mittwoch, 30. Oktober 2019, Zunfthaus zur Zimmerleuten, Zürich

Erfolgsbeispiele wie Unternehmensverkäufe und Börsengänge wirken als Katalysatoren. Europa wird als Venture Capital Standort zusehends attraktiver und holt gegenüber der USA mächtig auf. Das positive Momentum schwappt auch in die Schweiz hinüber. Es stehen zahlreiche neue Fonds mit erfahrenen und «neuen» Managern am Start. Dieser SECA Event präsentiert die Schweizer Manager und diskutiert Opportunitäten, Herausforderungen und blickt in die Zukunft.

 
 

8. SECA Private Equity Workshop

8. - 9. November & 22. November 2019, Lenz & Staehelin, Zürich

Ziel des Workshops ist es, einen umfassenden Einblick in die Struktur, die Funktionsweise, die Dynamik der Private Markets-Industrie sowie Handlungsempfehlungen aus der Sicht des Investors zu erhalten, was letztlich wesentlich zum besseren Verständnis der vorhandenen Chancen und Risiken dieser faszinierenden Assetklasse beiträgt.

 
 

SECA Evening Event: Corporate Venturing

Dienstag, 19. November 2019, Bern

Corporate Venturing erfreut sich auch in der Schweiz zunehmender Beliebtheit. Wie gehen Unternehmen dabei vor? Welche Kriterien für eine Beteiligung sind für sie wichtig? Was sind die Lessons Learned? Diese und andere Fragestellungen zum Thema Corporate Venturing diskutieren wir zusammen mit Vertretern von Unternehmen, welche in diesem Bereich aktiv sind.

 
 
 
 

Venture Capital

 
   

Media Monitoring

 
 

Startups verhüten Arbeitsunfälle und entwickeln langlebige Aromen - beide gewinnen CHF 150'000.

Die Gründer von Auxivo und microPow erhalten die höchste Unterstützung von Venture Kick mit Technologien, die auf der biomechanischen Forschung aufbauen, um die körperliche Belastung beim Tragen von Lasten zu reduzieren und ein additivfreies, mikrostrukturiertes Abgabesystem für Lebensmittel zu entwickeln.

 
 

Venture Capital Magazin - Israel 2019

Haben Sie die neuste Ausgabe des VentureCapital Magazins mit dem Special Technology Hotspot Israel schon gesehen? Nein! Dann jetzt gleich reinschauen.

 
 

Versantis Closes CHF 16M Series B to Advance Clinical Development

Versantis, a clinical-stage biotech company developing disruptive therapies for rare liver and pediatric diseases, announced the successful completion of an oversubscribed CHF 16m Series B round led by Swisscanto Invest. Existing backers such as Redalpine (Redalpine Capital III)  and HealthEquity also participated significantly.

 
 

Swiss startups and India's boom

Watch the Head of Innovation Partnerships, Dr. Swetha Suresh, talk about the opportunities lined up for Swiss startups in India, and how to amplify their presence in the Indian healthtech industry.

 
 

Technologiefonds Update #3/2019

In den letzten Wochen durfte der Technologiefonds einige neue Bürgschaften an innovative Unternehmen vergeben, die aktiv sind in den Bereichen Senkung des Treibhausgasaustosses und des Ressourcenverbrauchs sowie Förderung erneuerbarer Energien. Das Portfolio des Technologiefonds umfasst mittlerweile 78 Unternehmen mit prominenten Neuzugängen wie Flyability SA, welche Kreditbürgschaften in Gesamthöhe von über CHF 115 Mio. erhalten haben.

 
 

European Venture Report Q2

The European Venture Report covers dealmaking, exits and fundraising trends shaping the VC landscape across the continent. This edition spotlights the pharma & biotech sector and touches on trends such as extensive CVC participation in European deals and the dominant role software plays in the VC ecosystem.

 
 

John Hennessy und seine Managerlehren

John Hennessy  führte nach Jahren als Informatik-Professor, Fakultätschef und Provost die Stanford University in Palo Alto von 2000 bis 2016 als Präsident. «Godfather des Silicon Valley» nannte ihn der Wagniskapitalgeber Marc Andreessen einmal. Seit vergangenem Jahr ist er Vorstandsvorsitzender von Alphabet. Hennessy zeigt sich voller Energie und ist zum Scherzen aufgelegt, als er sich im Faculty Club der Stanford University zum Kamingespräch mit der American-Swiss-Foundation trifft. Dieser Tage treibt Hennessy vor allem die Frage nach der Zukunft um – konkret nach der nächsten Generation von Führungskräften im Silicon Valley: 100% lesenswert! Quelle: NZZ, 7.10.19

 
 

Investor Klaus Hommels legt 700-Millionen-Dollar-Fonds für Start-ups auf

Enormer Wachstumsimpuls für Europas Gründer: Mit seiner Firma Lakestar baut Investor Klaus Hommels einen der größten europäischen Tech-Fonds auf. Davon profitieren auch deutsche Start-ups.

 
 

Why it's hard for Europe's entrepreneurs to share success

Lawmakers across Europe haven't given start-ups the tools they need to share profits, with entrepreneurs instead encountering crushing costs and hassle when they try to give employees stakes. However, the situation finally seems to be changing.

 
 

French pension reserve fund contributes €500m to tech

France’s EUR 33bn pension reserve fund has said it is committing EUR 500m to investing in the country's late-stage venture capital and growth funds, and to global tech funds managed in France. The capital will be committed by 2022.

 
 

Silicon Valley investors seek to disrupt IPO business

VCs are meeting in Silicon Valley this week to discuss whether the financial industry's system for IPOs is still working, after a year in which many of the biggest deals flopped. Attendees plan to discuss alternative strategies including direct listings.

 
 

Macron Secures €5 Billion Investment to Boost French Tech Startups

French insurers and asset managers have pledged €5 billion in investment for homegrown tech firms as part of President Emmanuel Macron’s push to nurture France’s fledgling startups into a cohort of highly valued heavyweights.

 
 
 
 

Private Equity – Swiss News

 
   

Capital Transmission acquires a stake in Skycell AG, a specialist in temperature-controlled air cargo containers

Capital Transmission is accompanying the managers and longstanding shareholders of the Swiss German company Skycell in their ambitious development project. Through this capital growth operation, Capital Transmission supports the company's growth and provides it with the resources necessary to accelerate its development while structuring its fundamentals.

 
 

Capital Dynamics Clean Energy Infrastructure Receives Top Rankings from GRESB

Capital Dynamics, an independent global private asset management firm, announced its Clean Energy Infrastructure ("CEI") business has received the highest ranking from GRESB, the ESG benchmark for real assets, in multiple categories. Capital Dynamics Clean Energy and Infrastructure V JV LLC ("CEI Fund V" or "the Fund") was awarded with a 5 Star GRESB Rating and was recognized as "Sector Leader" for the Renewable Power Generation sector. In addition, the Fund was ranked first in the Americas for the non-listed category. The GRESB "Sector Leader" distinction commends the best performers annually from across the GRESB Assessments.

 
 

HBM Healthcare Investments Media Release

Viela Bio (Nasdaq: VIE), a privately held company in the portfolio of HBM Healthcare Investments, successfully went public. The company raised USD 150m through the issuance of 7.9m new shares at a price of USD 19.00 per share. On yesterday's first trading day the stock price rose to USD 23.41 (+23.2%).

 
 

Prorsum Capital from Zurich: Major capital boost for latest technology in wind measurements

Zurich-Zollikon based company Prorsum Capital's CEO and founder Otto von Troschke declared “We are excited to become the largest shareholder of EOLOS following the capital increase. Rajai and his team have made EOLOS over the past years to one of the market leaders in the turnkey floating LIDAR segment and attract some of the biggest utilities active in the offshore wind industry as their clients. Due to the acceleration of the development time of offshore wind, EOLOS can provide a valuable impact towards SDG 7.” Jeroen van der Veer, board member of Prorsum and former CEO of Royal Dutch Shell adds: “Offshore wind farms play a central role in the large-scale adoption of renewable energy.

 
 

Temasek Acquires 50% Stake in Switzerland's Gategroup

Temasek Holdings has acquired a 50% stake in Swiss airline catering company gategroup Holding AG. The Singapore state-investment company converted a mandatory exchangeable bond into shares and acquired more shares, gategroup said in a statement Thursday. RRJ Capital owns the remaining 50% stake. Zurich-based gategroup provides catering services to the aviation industry, serving more than 700m passengers annually. In 2018, gategroup's revenue reached CHF 4.90bn.

 
 

Spice PE released its semi-annual report

Spice Private Equity announced its 2019 Semi-Annual Report. Spice PE registered a net profit of USD 3.4m, compared to a net loss of USD 9.7m in the first semester of the previous year.
The NAV reached USD 200.3m as of 30 June 2019, compared to USD 202.0m at the end of December 2018. On 5 June 2019, Spice PE paid a dividend of USD 0.95 per share, amounting to a total dividend payment of USD 5.1m.

 
 
 
 

Private Equity – Int. News

 
   

Media Monitoring

 
 

AVCO Newsletter September 2019

Read the lates news from the Austrian Private Equity and Venture Capital organisation in the AVCO Newsletter September 2019.

 
 

Partners Group launches ASX-listed private debt offering at AUD 550 million

Partners Group has launched a Listed Investment Trust, Partners Group Global Income Fund, on the Australian Securities Exchange (ASX), raising AUD 550 million. The Trust, which was strongly oversubscribed, offers non-institutional clients the opportunity to gain exposure to global private debt investments, while providing the flexibility to buy and sell units on the ASX. The Trust was listed on the ASX's official list on 26 September 2019 and is trading under ASX code "PGG".

Martin Scott, Partner, Head of Australia, Partners Group, states: "We are delighted to announce the successful, oversubscribed launch of an LIT in Australia, bringing a product, which has traditionally only been available to institutional investors, to a retail audience. This is particularly relevant in the current low yield environment as it offers an attractive alternative to traditional fixed income investments. We did not compromise in putting this offering together, maintaining Partners Group's focus on institutional quality and best practice."

 
 

UBS Global Family Office Report 2019

Welcome to the sixth edition of the UBS Global Family Office Report 2019, produced in partnership with Campden Wealth Research. The 2019 Global Family Office Report reveals the latest survey results on the performance and insights from 360 family offices globally. For the first time, family offices also shared their views on broader issues – spanning politics, the economy and climate change. Another new section is dedicated to regional trends for family offices in North America, Europe, Asia-Pacific, and the Emerging Markets.

 
 

EQT Soars on Debut

EQT, the largest buyout firm in the Nordic region, made one of Europe’s strongest trading debuts this year after its initial public offering was heavily oversubscribed. and priced near the upper end of an estimated range. “We expected to have substantial interest” in the listing, EQT Chief Executive Officer Christian Sinding said in a Stockholm interview. “But there’s been more interest than even we had expected.“

 
 

Akin Gump: Unpacking the Dynamics of the Private Debt Market

Following the financial crisis, nonbank lenders looking to carve out new, profitable niches—especially within the leveraged loan universe—quickly filled the lending gap created by the exit of banks. The relatively swift recovery of the private equity industry from the nadir of the financial crisis also helped reinforce demand for private debt solutions. As dry powder levels inflated to record levels, competition for choice assets intensified, producing new strategies across PE and private debt in turn. Private debt fundraising within the U.S. consequently hit a record in terms of capital raised in 2017, at nearly USD 80bn.

 
 

Biotech in Europe: A strong foundation for growth and innovation

Biotech is entering its next S-curve of growth as companies work to transform an array of innovations—gene therapies, stem-cell treatments, antisense DNA, siRNA, CAR-T — into powerful new therapeutic tools. Yet more scientific and technological breakthroughs are on the horizon. Europe’s role in this industry continues to grow, and the region leads in many ways. However, European companies have an opportunity to play an even stronger role in the growth of an important and dynamic industry.

 
 
 
 

Corporate Finance

 
   

Media Monitoring

 
 

Unternehmensfinanzierung vor Veränderungen

Für den Produktionsstandort Deutschland wird Industrie 4.0 eine der zentralen Herausforderungen der kommenden Jahre sein. Einhergehend damit steht auch die Unternehmensfinanzierung vor weitreichenden Veränderungen, wie der ibi Research Report zeigt.

 
 
 
 

Mergers & Acquisitions

 
   

Pensa übernimmt MBT

Pemsa SA, Lutry, ein in der französischen und italienischen Schweiz führendes Unternehmen für Personalverleih und –dienstleistungen, hat rückwirkend per 1.1.2019 100% der Aktien der MBT AG, Zürich, übernommen. Der bisherige Inhaber, Christoph Neuenschwander, der die MBT langjährig geführt und aufgebaut hat, bleibt Geschäftsführer der MBT und wird die Pemsa weiterhin mit seinem Know-how für die weitere Expansion in der Deutschschweiz unterstützen. Jürg Kurmann Mergers & Acquisitions AG hat Pemsa in dieser Transaktion beraten und den Transaktionsprozess bis zum Abschluss unterstützt.

 
 

Kostenlose KMU-Firmenbewertungen

Das erfolgreiche Start-up NIMBO AG bietet seit 2017 eine kostenlose Firmenbewertung online an. Der auf einem differenzierten Fragebogen beruhende Bewertungsbericht wird bereits rund 800 Mal pro Monat von Firmeninhabern aus Deutschland, Österreich und der Schweiz abgerufen. Lesen Sie im aktuellen Interview mit dem Mitgründer und Geschäftsführer, Marc Uhlmann, wie sich NIMBO entwickelt hat und wie Jürg Kurmann Mergers & Acquisitions massgeblich an Gründung und Aufbau beteiligt war.

 
 
 
 

Book of the Week

 
   

Erfolgreiche Strategien für nachhaltiges Wachstum

Mit dem Buch Wende in die Zukunft - Pivot to the Future bekommen Unternehmen Hilfestellungen, wie sie die Herausforderungen der Digitalisierung aktiv meistern können. Dabei liegt der Fokus des Buches keinesfalls darauf, bewährte Geschäftsmodelle komplett umzukrempeln. Stattdessen geben zahlreiche Fallstudien Einblick in die Technik des "Wise Pivot", einer Managementstrategie die Gleichzeitigkeit ermöglicht. Damit können Firmen gleichzeitig ihr bestehendes Kerngeschäft weiterentwickeln und neue zukunftsfähige Wege einschlagen - um jetzt fit für die digitalen Herausforderungen zu sein und nicht erst, wenn es zu spät ist.

 
 

Ethical Investing: Opportunities and Challenges of Morally Justified Investments

Ethical investing is becoming increasingly attractive for investors and banks. Financial performance and reduced risk, social-ecological responsibility and a good consciousness are typically promised. However, which moral rules and considerations should actually guide an investor? This book analyses selection criteria for ethical investing and its underlying theoretical premises. It outlines the opportunities and challenges of an investment style that integrates ethical norms and values into the investment process. Investors and financial advisors will benefit from reading this book that is also a good investment for researchers and analysts in the field of sustainable investing and the ethics of finance.

 
 
 
 

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 Full Members
    free of charge
  • for SECA Associate and Individual Members
    CHF 100.- / 2 editions
  • for Non-Members CHF 200.- / 2 Weeks
 
 
 
 

Agenda

 
   

Swiss M&A and Private Equity Forum, The Dolder Grand, Zurich

Tuesday, 24 October 2019, The Dolder Grand, Zurich

Mergermarket’s annual Swiss M&A and Private Equity Forum will examine current M&A opportunities for private and public Swiss companies, bringing together a mix of local and international banks, corporates and private equity houses. SECA Members profit from 20% discount.

 
 

CPEA-Weiterbildung von BVK und TU München

Im Oktober 2019 startet der mittlerweile 7. Studienjahrgang des Weiterbildungsprogramms Certified Private Equity Analyst - CPEA® von BVK und TU München. Herzlich laden wir Weiterbildungswillige ein, am etablierten CPEA-Programm 2019/20 teilzunehmen und sich anzumelden. SECA Mitglieder profitieren von 10% Rabatt.

 
 

Investor Summit Liechtenstein 2019

31. Oktober 2019, Saal am Lindenplatz, Schaan

Der Investor Summit Liechtenstein vernetzt Start-ups und KMU auf Kapitalsuche mit hochkarätigen Investoren und Entscheidungsträgern. Im Zentrum der Veranstaltung stehen die Unternehmenspräsentationen.

 
 

Women in Private Equity Forum

5 - 6 November 2019, The Hilton Tower Bridge, London

The premier diversity event in private equity, the Women in Private Equity Forum will be bringing together over 600 attendees in London on 5-6 November. As awareness of the importance of addressing diversity within the industry increases, this is not an event to be missed. View the most recent agenda featuring think-tanks, workshops, mentoring sessions, roundtables, and a working lunch, allowing you to build your network across alternative asset classes. Book now and save 10% using the code WomenSummit19-SECA.

 
 

Equity rally or corrections in 2020? - Shape your decision through unique insights at Zürcher Kantonalbank's first Swiss Equity Conference 2019

November 6 and 7, 2019, Belvoirpark, Zurich

Zürcher Kantonalbank, a leading provider of trading, capital market and research services for Swiss companies, will be holding the first investor conference of its own: the Swiss Equity Conference. Featuring over 60 companies and real estate funds, it will be one of the largest investor conferences of the year. In addition to numerous group meetings, participants will have the opportunity to meet top managers one-on-one. Register now and secure your access to renowned Swiss large, medium-sized and small companies.

 
 

SuperInvestor - The #1 LP/GP relations event

19 - 22 November 2019, Amsterdam

SuperInvestor attracts 1,200+ world class private equity and venture capital investors. Meet the decision-makers. 400+ LPs, 550+ GPs. Representing private equity, venture capital, private debt and real assets. SECA Members have access to an exclusive discount of 10% on the ordinary ticket price with the code "FKR2475SECA".

 
 

IPEM 2020

IPEM is the world's largest private capital merktplace gathring the industry's complete value chain. As IPEM partner, SECA is pleased to offer our members a special discount of 10% on the participant pass. Registration possebilities will follow soon.

 
 

Upcoming SECA Events - save the date

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 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.

 
 
 
 

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