eNewsletter no. 535

23 December 2021
   

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Dear Reader

Once again, 2021 has been a challenging year for many businesses, with the pandemic continuing to impact organizations across the globe. Even more we appreciate your support and interest in our activities and would like to thank you for your loyalty and trust during this extraordinary time. 

We wish each of you a relaxing, peaceful and safe holiday break.

Maurice Pedergnana

 

 
 
 

SECA

 
   

Formations en ligne sur le private equity

La SECA (Swiss Private Equity and Corporate Finance Association) propose un cycle de formations en français facilitant la montée en compétences des professionnels intéressés par le capital-investissement (private equity).

 
 

Swiss Venture Capital Report 2021

27 January 2022, Zurich / hybrid

The event will focus on the presentation of the Swiss Venture Capital Report with analyses of investments in Swiss start-ups in 2021. The event organised by Startupticker gives an overview of investments and exits. How much money has been raised? By how many companies? Did the financing boom for ICT startups continue? The event provides answers to these question. In addition, support organisations will present themselves and there will be enough time for networking.

 
 
 
 

Venture Capital

 
   

New! Swiss Startup Radar No. 4

Startupticker launched Swiss Startup Radar in collaboration with HEC Lausanne, University of Lausanne as a data-based report in addition to Swiss Venture Capital Report in 2018. The fourth study focuses on the topics Covid-19 and the digitisation boost, characteristics of founders and the development of VC financing in Switzerland. The results are compared with several other countries and regions including UK, Israel, Sweden, the Netherlands, Germany and Massachusetts. The book presents the results in German, French and English.

 
 

Innovation Hub Directories 

The Life Science Zurich Business Network has published its new online directory. Get an overview of the Life Science stakeholders in academia, industry, and the public sector in Zurich, find the right contacts and funding opportunities for your project as well as programs for a successful launch of your startup and more! 

 
 

Spicehaus Partners: Neue Investition in Edge Computing

Die jüngste Investition des Spicehaus Swiss Venture Fund hat Dr. Teddy Amberg und sein Team als Lead Investor zu Klepsydra AG geführt:. Das Softwareunternehmen Klepsydra wurde 2018 von Dr. Pablo Ghiglino ("a top-class software developer of trading systems for investment banks with a PhD in Aerospace Engineering") und Isabel del Castillo gegründet und hat eine Software für hochkomplexe Edge Computing Anwendungen entwickelt. Damit hat der Spicehaus Swiss Venture Fund innerhalb von zwei Jahren ein Portfolio von 12 Schweizer Technologieunternehmen aufgebaut.

 
 

Ringier Digital Ventures investiert in das Schweizer Digital Health Start-up Baze

Ringier Digital Ventures beteiligt sich zusammen mit Sanner Ventures und Business Angels im Rahmen der aktuellen Finanzierungsrunde an Baze. Das Unternehmen ist der Pionier im Bereich der personalisierten Nährstoffsupplementierung. Baze ermöglicht zum ersten Mal überhaupt die gezielte Nährstoffoptimierung auf Basis einer regelmässigen Bestimmung des individuellen Nährstoffstatus.

 
 

PitchBook Analyst Note: 2022 US Venture Capital Outlook

The US VC industry shattered records left and right in 2021, as the private markets raced through the economic recovery and soared to new heights. What’s in store for next year?

 
 

PitchBook’s Guide to Your Pitch

Every year, more than $1 trillion is committed to private market funds worldwide, yet fund managers, particularly those raising funds I, II, or III, often say their biggest frustration is how difficult it is to raise a fund.

 
 

British technology sector has its best year for fundraising

The British technology sector has enjoyed its best year in raising funds from venture capital investors, attracting £29.4 billion in 2021.

 
 

Xsensio raises CHF 4.2 million to accelerate market launch

The first closing of Xsensio’s new financing round with Swiss and international investors was CHF 4.2 million. The funds will flow into advancing the startup’s proprietory Lab-on-Skin sensing platform for continuous body monitoring through wearable devices. The investment round is led by SECA Member Privilège Ventures, a Swiss venture capital firm with offices in Lugano, Zurich and Boston, and included the EIC Fund and other international investors.

 
 

European Venture Capital Statistics: Finnish Startups Attract Twice as Much Funding as Most European Counterparts

According to recent Invest Europe statistics, Finnish startups receive the most venture capital funding in Europe, when the invested amount is examined in relation to gross domestic product. While Finland has already held the top spot for three consecutive years, in the 2020 statistics Finland stands out from the crowd by far.

 
 

Bottneuro gewinnt CHF 150’000 zur Förderung von Diagnose und digitalen Therapien für Alzheimer-Krankheit 

Bottneuro wird die Frühdiagnose der Alzheimer-Krankheit erleichtern und will ein führender Anbieter von personalisierten digitalen Therapien für Alzheimer werden. Das in Basel ansässige Startup-Unternehmen wird digitale Biomarker verwenden und PET-Scan-Zentren einrichten, um Alzheimer in einem frühen Stadium zu diagnostizieren und diese Daten zu nutzen, um eine personalisierte, patientenspezifische Elektrostimulationstherapie anzubieten. Bottneuro wird die CHF 150'000 für den Aufbau von PET-Scan-Zentren und weitere Geschäftsentwicklungsaktivitäten verwenden.

 
 

kenbi raises €23.5M Series A to fuel healthcare@home vision

We are thrilled to announce the €23.5M Series A round of our portfolio company kenbi (Redalpine Capital IV), the tech-enabled healthcare-at-home startup. The round was led by Healthtech Growth Fund Endeavour Vision and included the existing investors. The newly raised funds will be used to further expand kenbi’s care services  across more states in Germany and for major product innovations.

 
 

Deutsche Börse schliesst Erwerb einer Mehrheitsbeteiligung an Crypto Finance ab

Die Deutsche Börse hat die Übernahme einer Mehrheitsbeteiligung an der Crypto Finance, einem FINMA-regulierten Anbieter zum Handel, zur Verwahrung und Anlage in digitale Vermögenswerte, abgeschlossen. Die Vereinbarung wurde im Juni unterzeichnet, der Abschluss erfolgte am 15. Dezember 2021.

 
 

Parlament gibt Innosuisse mehr Spielraum bei der Innovationsförderung

Innosuisse soll neu mehr Flexibilität bei der Förderung erhalten. In der Wintersession haben beide Räte die Revision des Bundesgesetzes über die Förderung der Forschung und der Innovation (FIFG) mit verschiedenen Änderungen verabschiedet.

 
 

Flagship-Themen der ersten Ausschreibung

Innosuisse hat 2021 die neue Flagship Initiative lanciert. Mit dieser Förderinitiative will die Schweizerische Agentur für Innovationsförderung systemischen Innovationen, die für aktuelle wirtschaftliche und gesellschaftliche Herausforderungen in der Schweiz zentral sind, Anschub geben. In der ersten Ausschreibung hat Innosuisse fünfzehn Gesuche bewilligt.

 
 

Memo Therapeutics AG to Receive CHF 10.5 Million from Swiss Federal Funding Programme to Clinically Develop SARS-CoV-2 Antibody Against COVID-19

Memo Therapeutics AG (“Memo”), an innovator in the field of antibody discovery and development, announced the receipt of CHF 10.5 million from the Swiss Federal Funding Programme for COVID-19 Medicines to clinically develop COVAB 36, a potent, fully-human monoclonal antibody for the treatment of SARS-CoV-2 infections.

 
 

Meet the fastest-growing fintechs of 2021

European fintech has had a stellar year. These are the startups that hired the most aggressively over the past 12 months.

 
 

Vienna startup database – mapping Austria’s capital city 

As of now, Vienna has its own online startup ecosystems solution powered by Dealroom, and is the first Austrian ecosystem to join the global network. Initiated by Vienna Business Agency, the new dedicated startup database catalogues the City’s rapidly evolving startup tech scene, mapping companies, investors, and support organisations in detail.

 
 

These Are The Most Active Investors In Decacorn Startups

This year has seen the number of new companies valued as decacorns double already, compared to 2020, marking the highest year on record for new startups valued at $10 billion or more.

 
 
 
 

Private Equity – Swiss News

 
   

Partners Group's Private Markets Navigator 2022

Partners Group's Private Markets Navigator for 2022: The report summarizes the economic outlook and investment preferences for all private markets asset classes. Coming out of the sharpest contraction since the Great Depression, the world continues to adjust to a new economic reality. While the initial recovery has been strong, we believe there are still clouds on the horizon, including inflationary pressures and more modest growth prospects. To navigate this environment, we maintain strong conviction in our transformational investing approach, which combines thematic sourcing with hands-on value creation.
Today, we believe there are three overarching giga themes that are driving structural change and secular growth: Digitization & Automation, New Living and Decarbonization.

 
 

Partners Group to acquire atNorth, the largest data center operator in Iceland

Partners Group, has agreed, on behalf of its clients, to acquire atNorth, the largest data center operator in Iceland, from its existing shareholder group. The terms of the transaction are not being disclosed.

 
 

Entangled Capital SGR and Capital Dynamics Acquire pharmaceutical glass manufacturer Crestani

EC I, the fund managed by Entangled Capital SGR, and Capital Dynamics, an independent global private asset management firm, today announced the acquisition of Crestani S.r.l, an Italian manufacturer of glass ampoules and vials for the pharmaceutical and cosmetic sectors. Crestani marks EC 1’s and Capital Dynamics’ second transaction in the pharmaceutical glass industry, following the acquisition of SM Pack S.p.A. in September 2020, and creates a group dedicated to the production and sterilisation of ampoules and vials with a combined turnover of about €30 M and top-level profitability.
 

 
 

Institutional Investor Study 2021

Schroders annual Institutional Investor Study analyses the investment perspectives of 750 institutional investors, collectively responsible for $26.8 trillion in assets and from 26 locations across the world.

 
 

Private assets 4.0: the opportunities in 2022

Private markets have reached a new phase. Schroders explain why, and how investors can benefit in 2022.

 
 

Heuking unterstützt Krypto-Börse BitMEX bei Regulierung

Das Zürcher Büro von Heuking unterstützt BitMEX, eine der weltweit größten Kryptoderivate-Handelsplattformen, beim Schweizer Markteintritt. Die Handelsplattform wurde 2014 gegründet und beabsichtigt, ihr Brokerage-Geschäft für Kryptoderivate künftig aus der Schweiz zu tätigen. Kryptowährungsmärkte sind 2021 erheblich gewachsen und haben das Wachstum aller anderen Anlageklassen übertroffen. Auf BitMEX wird jedes Jahr ein Volumen von über einer Billion US-Dollar gehandelt.

 
 

MTIP Closes Second Healthtech Growth Fund Above Target With $250M of Commitments

MTIP, the Swiss healthtech focused private equity firm, has announced the closing of its MTIP Fund II, SCSp (“The fund”) at USD $250 million in capital commitments. The oversubscribed fund, which closed above its target of $225 million, continues its predecessor fund’s strategy of investing in growing and innovative healthtech companies primarily across Europe.

 
 

Mutares hat die Akquisition der Allianceplus AB (Schweden) von Allianceplus Holding A/S erfolgreich abgeschlossen

Die Mutares SE & Co. KGaA (SECA Mitglied) hat den Erwerb der Allianceplus AB von der Allianceplus Holding A/S, die sich im Besitz von Polaris Private Equity befindet, erfolgreich abgeschlossen. Das Unternehmen wird das Segment Goods & Services als neue Plattform-Investition mit zahlreichen Add-on-Möglichkeiten in den nordischen Ländern und auf dem europäischen Festland stärken.

 
 
 
 

Private Equity – Int. News

 
   

BVK Kurier 2021

Zum 22. Deutschen Eigenkapitaltag veröffentlicht der Bundesverband Deutscher Kapitalbeteiligungsgesellschaften (BVK) spannende Beiträge aus der Beteiligungsbranche. Freuen Sie sich auf Fachbeiträge zu den Themen Digitalisierung & Innovation, Private Equity, Venture Capital sowie Informationen rund um den BVK.

 
 

AVCO Newsletter - December 2021

As the national association for the Austrian Private Equity and Venture Capital Industry, AVCO also offers a regular newsletter. In their monthly newsletter they are reviewing the latest events in Austria’s PE/VC landsacpe and in the neighboring regions. They share news about AVCO activities and AVCO members, the community, upcoming events and developments of the industry, the capital market and the ecosystem.

 
 

Coller Capital Global Private Equity Barometer Winter 2021-22

Wider incentivisation of portfolio company employees would boost private equity returns, investors say

  • Investors think societal pressure will force the PE industry to begin self-regulating
  • Over half of European LPs have now rejected potential PE fund commitments on ESG grounds
  • Investors are increasingly scouring the social media accounts of individual GP team members
  • Over half of LPs are trying to boost their attractiveness as co-investment partners
 
 

Pfizer to Acquire Arena Pharmaceuticals 

Pfizer and Arena Pharmaceuticals, announced that the companies have entered into a definitive agreement under which Pfizer will acquire Arena, a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases. Under the terms of the agreement, Pfizer will acquire all the outstanding shares of Arena for $100 per share in an all-cash transaction for a total equity value of approximately $6.7 billion. The boards of directors of both companies have unanimously approved the transaction.

 
 

Microsoft accelerates industry cloud strategy for healthcare with the acquisition of Nuance

Acquisition will combine solutions and expertise to deliver new cloud and AI capabilities across healthcare and other industries.

 
 

SUSI Partners Energy Transition Fund invests in Chile and Australia

SUSI Partners has invested in the Chilean renewables market and acquired an Australian clean-energy company on behalf of its Energy Transition Fund (SETF).

 
 

Discover Invest Europe's new Climate Change Guide 3

Aimed at GPs and their portfolio companies who are ready to move onto the next phase of their climate journey, our 3rd Climate Change Guide dives into the details of the race to net-zero, setting science-based targets, conducting a scenario analysis, collecting, measuring, and reducing scope 3 emissions and undertaking internal carbon pricing – all from a PE/VC perspective.

 
 

Online film series produced by BBC Global News

This film aims to show how private equity secondary firm Coller Capital and its General Partners place ESG at the heart of all of their investments.

 
 

Global Real Assets Report

This may be a turning point for real assets. The outlook for real assets is more bullish than it has been in years. However, time will tell whether GPs and LPs will be attracted into strategies that have underperformed for years. Our Q3 2021 Global Real Assets Report takes a deep dive into fundraising activity, commodity performance, global transportation trends and more.

 
 

The 2021 EBAN Statistics Compendium is Published! 

EBAN, the European Business Angels Network, is delighted to announce the publication of our Annual Statistics Compendium – Europe’s most extensive annual research on the activity of business angels and business angel networks.

 
 
 
 

Corporate Finance

 
   

Global IPO has record-breaking 2021, prepare for headwinds in 2022.

In brief

  • Global IPO volumes rose 64% and proceeds rose by 67% year-on-year (YOY).
  • Q4 2021 was the most active fourth quarter by deal numbers since Q4 2007.
  • COVID-19 vaccine rollout, economic rebound and high liquidity buoyed 2021 initial optimism.
 
 

Q3 2021: How did the Swiss valuation parameters and the European M&A volume develop? 

Valuation Market Essentials Switzerland - what key highlights did we observe in Q3 2021? Q3 2021 showed lower trading multiples and debt to equity ratios for most of the non-financial sectors as compared to the same quarter last year, while currently based on the June 2021 financials.

 
 

Wineus successfully arranged a bank debt financing facility for SkyCell AG

Wineus successfully advised SkyCell on the origination of its bank debt facility provided by a Swiss bank. The debt facility comprises a tailormade structuring to meet SkyCell’s high growth profile. Wineus advised SkyCell throughout the entire financing process including the preparation of the financing memorandum, origination of an optimal financing solution and negotiation of the credit documents.

 
 
 
 

Mergers & Acquisitions

 
   

Oaklins M&A Outlook Schweiz

Oaklins Switzerland misst mit dem halbjährlich erscheinenden M&A Outlook die erwartete Transaktionsaktivität mit Beteiligung von Schweizer Unternehmen in den kommenden 12 Monaten. Die gewonnenen Erkenntnisse basieren auf einer Umfrage mit rund 100 Führungskräften und Experten, die eng mit der M&A-Aktivität in ihrer jeweiligen Firma in Verbindung stehen.

 
 

Neuer Aon M&A Report

Der Bericht identifiziert drei Merkmale der Due Diligence, die den Dealmakern noch vor wenigen Jahren unbekannt waren, und gibt Ratschläge, wie man sie mit verbesserten Erkenntnissen angehen kann:

  • Die Bedeutung von ESG-Überlegungen (Umwelt, Soziales und Unternehmensführung)
  • Die zentrale Rolle der digitalen Technologie
  • Öffentliche Märkte
 
 
 
 

Management Buyout

 
   

]init[ wins Gilde Buy Out Partners as a further shareholder in addition to EMERAM Capital Partners

]init[ AG für digitale Kommunikation stärkt mit Gilde Buy Out Partners ihren Gesellschafterkreis. Dazu haben Fonds, beraten von Gilde Buy Out Partners („Gilde“), den Kauf eines Minderheitsanteils vereinbart (Signing). Die von EMERAM Capital Partners („EMERAM“) beratenen Fonds werden nach dem vereinbarten Teilverkauf in gleicher Höhe wie Gilde an ]init[ beteiligt bleiben. Weitere Gesellschafter des Berliner Digitalunternehmens sind unverändert Dirk Stocksmeier, Gründer und Vorsitzender des Aufsichtsrats, sowie das Management.  
 

 
 
 
 

Book of the Week

 
   

IFZ InsurTech Report 2021

The first edition of the IFZ InsurTech Report provides a comprehensive overview and analysis of active InsurTechs in Europe. It also includes a detailed assessment of the growing Swiss InsurTech landscape. The report is based on a database, which has been jointly compiled by HITS House of InsurTech Switzerland and the Institute of Financial Services Zug IFZ.

 
 

IFZ Conversational Banking Studie 2021

Zusammen mit Wirtschafts- und Finanzpartnern hat das IFZ während der letzten Monate die Einsatzmöglichkeiten von Conversational Banking in den Sales- und Serviceprozessen von Banken in der DACH Region analysiert. Conversational Banking dient dabei als Überbegriff für die dialog-basierte Kommunikation zum Beispiel in Form von Live-Chat, Chatbot oder Voicebot. Die Studienergebnisse zeigen, wann sich die Zielgruppen den Chat mit einer Bank wünschen und in welchen Situationen die klassischen Kommunikationsmassnahmen wie E-Mail oder Filialbesuch weiterhin bevorzugt werden. Ebenfalls wird in der Studie sehr deutlich, welche Kundengruppen mit ihrer Bank am liebsten chatten und zu welchen Themen die Kunden/-innen überhaupt chatten wollen.

 
 
 
 

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

 
   

Upcoming SECA Events - save the date

  • SECA Formations en ligne sur le private equity (f)
    Sept modules - Start Mercredi 2 Février 2022
    Tout savoir sur le private equity / Due diligences financières /
    Valorisation des entreprises / Convention d'actionnaires / Management package / Lever un fonds de private equity : théorie et pratique / Private equity pour le middle & back office

  • Presentation Swiss Venture Capital Report 2022
    27. Januar 2022, Zürich / hybrid

  • SECA Workshop Venture Capital
    20. & 21. Mai 2022, NKF, Zürich

  • SECA Private Equity Conference
    5. Juli 2022, SIX, Zürich

  • SECA Evening Event – VC Funds on Stage
    26. Oktober 2022, Zürich

  • SECA Workshop Private Equity
    18. & 19. November 2022, Lenz & Staehelin, Zürich

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

 
 

IPEM 2022

1-3 February 2022, Palais des Festivals de Cannes, France

In only 6 years, IPEM has become the benchmark of Private Capital events. Its unique and surprising “PE meets tradeshow” format has won its fame for being a dynamic, easy and effective business congress. IPEM has grown to an international event of 3,200 top-quality participants, while keeping the heart and soul of an intimate and relaxed gathering of all private markets.
Join the Private Capital ecosystem in Cannes and discover why IPEM is so much MORE than a conference.

As IPEM partner, SECA members receive a special discount::
1,774€ (save 416€) from October 16th to December 17th included

 
 

Fachkurs Sustainable Finance

ab 31. März 2022, Hochschule Luzern - Wirtschaft, IFZ, Rotkreuz

Im kompakten und praxisorientierten Fachkurs erlangen Sie ein fundiertes Grundwissen zum Thema Sustainable Finance in der Schweiz und bauen Ihre Fachkompetenzen im Bereich Nachhaltigkeit aus.

 
 
 
 

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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