Zurich-based
venture capital firm Wingman Ventures has announced a rebranding as Founderful
and launched a $120 million second fund to invest in Swiss tech startups. The
company has already raised $85 million toward the new fund’s target.
Founded in
2019, Founderful provides early-stage capital and support to ambitious Swiss
startups. The firm typically invests at the pre-seed stage and has made nearly
50 investments from its first $60 million fund, backing companies like Wingtra,
DePoly and Corintis. In total, Founderful’s portfolio firm have gone on to
raise over $350 million in additional funding.
Alex Stöckl, Partner at Founderful
“Switzerland
is one of the world’s fastest-growing venture capital markets,” said Alex
Stöckl, Partner at Founderful. “With the global shift towards more complex
technologies solving some of our society’s most pressing challenges, it will
become one of the world’s most important tech hubs.”
Founderful
II is backed by institutional investors as well as founders of successful
startups like Duolingo, Climeworks, GetYourGuide and Delivery Hero. The firm
plans to focus its new venture on startups in areas like robotics, artificial
intelligence, computer vision and material sciences. It aims to work closely
with universities and industry partners.
Lukas Weder, Founding Partner at Founderful
“Our
fresh identity as Founderful reflects our purpose as a venture capital business
to have the deepest understanding of founders and give them the highest level
of support,” said Lukas Weder, Founding Partner at Founderful.
The new
fund emerges at a time when European tech and fintech startups find themselves
on the brink of a funding cliff. The latest Pulse of Fintech report by KPMG
showed that in 2023, global investments in financial technology fell by $85
billion to $113.7 billion.
Switzerland to Become
Leading VC Ecosystems in Europe
Several key
trends back the Founderful thesis on investing in Swiss startups. Firstly, Switzerland
has maintained its position as the leader in the Global Innovation Index for 13
years in a row, excelling in technology, knowledge, and creativity. The country
boasts the highest number of patents per capita globally, and ETH Zurich is
renowned for generating the most university spin-offs worldwide.
Stats of the Swiss startups in 2023. Source: Startupticker.ch
Marcin Majewski, the Founder and Managing Partner at Aventis Advisors
“Founderful’s
initiative to raise $120 million for Swiss tech and AI startups is very
exciting! With Switzerland’s booming venture capital market and robust research
institutions, the potential for building successful startups is immense,”
commented Marcin Majewski, the Founder and Managing Partner at Aventis Advisors.
Secondly, The
attraction of major technology firms to Switzerland is notable, with Google
housing its largest tech office outside the U.S. there, employing 5,000
developers. Other tech giants like Disney, Nvidia, Meta, Huawei, and Intel have
recently expanded their R&D teams in Switzerland.
“When
looking at our data, Switzerland has been on the rise as one of Europe’s
fastest growing VC ecosystems over the past five years, and in 2023 becoming
the fifth largest venture market on the continent only behind powerhouses UK,
Germany, France and Sweden,” commented Yoram Wijngaarde, the CEO and Founder of
Dealroom.
Yoram Wijngaarde, the CEO and Founder of Dealroom
And thirdly,
Switzerland has earned the title of a Unicorn nation, with a higher density of
billion-dollar tech startups per capita than any other European country. Newly
successful unicorns such as Scandit, Climeworks, and SonarSource, along with
less visible but successful ventures like Proton, highlight Switzerland’s
increasing importance in the global B2B technology sector.
Switzerland also stands out as one of the most forward-thinking countries in terms of developing regulations for new technologies and asset classes.
Zurich-based
venture capital firm Wingman Ventures has announced a rebranding as Founderful
and launched a $120 million second fund to invest in Swiss tech startups. The
company has already raised $85 million toward the new fund’s target.
Founded in
2019, Founderful provides early-stage capital and support to ambitious Swiss
startups. The firm typically invests at the pre-seed stage and has made nearly
50 investments from its first $60 million fund, backing companies like Wingtra,
DePoly and Corintis. In total, Founderful’s portfolio firm have gone on to
raise over $350 million in additional funding.
Alex Stöckl, Partner at Founderful
“Switzerland
is one of the world’s fastest-growing venture capital markets,” said Alex
Stöckl, Partner at Founderful. “With the global shift towards more complex
technologies solving some of our society’s most pressing challenges, it will
become one of the world’s most important tech hubs.”
Founderful
II is backed by institutional investors as well as founders of successful
startups like Duolingo, Climeworks, GetYourGuide and Delivery Hero. The firm
plans to focus its new venture on startups in areas like robotics, artificial
intelligence, computer vision and material sciences. It aims to work closely
with universities and industry partners.
Lukas Weder, Founding Partner at Founderful
“Our
fresh identity as Founderful reflects our purpose as a venture capital business
to have the deepest understanding of founders and give them the highest level
of support,” said Lukas Weder, Founding Partner at Founderful.
The new
fund emerges at a time when European tech and fintech startups find themselves
on the brink of a funding cliff. The latest Pulse of Fintech report by KPMG
showed that in 2023, global investments in financial technology fell by $85
billion to $113.7 billion.
Switzerland to Become
Leading VC Ecosystems in Europe
Several key
trends back the Founderful thesis on investing in Swiss startups. Firstly, Switzerland
has maintained its position as the leader in the Global Innovation Index for 13
years in a row, excelling in technology, knowledge, and creativity. The country
boasts the highest number of patents per capita globally, and ETH Zurich is
renowned for generating the most university spin-offs worldwide.
Stats of the Swiss startups in 2023. Source: Startupticker.ch
Marcin Majewski, the Founder and Managing Partner at Aventis Advisors
“Founderful’s
initiative to raise $120 million for Swiss tech and AI startups is very
exciting! With Switzerland’s booming venture capital market and robust research
institutions, the potential for building successful startups is immense,”
commented Marcin Majewski, the Founder and Managing Partner at Aventis Advisors.
Secondly, The
attraction of major technology firms to Switzerland is notable, with Google
housing its largest tech office outside the U.S. there, employing 5,000
developers. Other tech giants like Disney, Nvidia, Meta, Huawei, and Intel have
recently expanded their R&D teams in Switzerland.
“When
looking at our data, Switzerland has been on the rise as one of Europe’s
fastest growing VC ecosystems over the past five years, and in 2023 becoming
the fifth largest venture market on the continent only behind powerhouses UK,
Germany, France and Sweden,” commented Yoram Wijngaarde, the CEO and Founder of
Dealroom.
Yoram Wijngaarde, the CEO and Founder of Dealroom
And thirdly,
Switzerland has earned the title of a Unicorn nation, with a higher density of
billion-dollar tech startups per capita than any other European country. Newly
successful unicorns such as Scandit, Climeworks, and SonarSource, along with
less visible but successful ventures like Proton, highlight Switzerland’s
increasing importance in the global B2B technology sector.
Switzerland also stands out as one of the most forward-thinking countries in terms of developing regulations for new technologies and asset classes.
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- Source: https://www.financemagnates.com//fintech/swiss-startups-to-watch-as-founderful-rolls-out-120-million-fund/
