Credit Suisse holds the first-ever Swiss-wide day dedicated to the entrepreneurship

Credit Suisse holds the first-ever Swiss-wide day dedicated to the entrepreneurship

(PRESS RELEASE) ZURICH, 20-Feb-2019 — /EuropaWire/ — Credit Suisse is today commemorating the 200th anniversary the birth of Alfred Escher. What Alfred Escher has achieved back in the 19th century continues to have a lasting impact on Switzerland as an economic center to this day.

To mark this important occasion, the bank has decided to add more capital to and expand its venture capital arm Credit Suisse Entrepreneur Capital Ltd. Credit Suisse will increase the capital of its venture capital vehicle from CHF 130 million to CHF 200 million by committing further CHF 70 million.

The additional capital will help the bank to further expand its commitment to Switzerland as a center of economic activity and contribute to the sustainable advancement of entrepreneurship in Switzerland.

So far, Credit Suisse Entrepreneur Capital Ltd. has invested CHF 130 million in more than 50 SMEs at different stages of development across the country. The company was formerly known as SVC – Ltd. for Risk Capital for SMEs.

Didier Denat, Chairman of the Board of Directors of Credit Suisse Entrepreneur Capital AG and Head of Corporate Clients & Investment Banking at Credit Suisse in Switzerland:

“Turning a vision into reality and facilitating progress require capital. Alfred Escher recognized this back in the 19th century, and it is no less true nowadays. In particular, young companies at the beginning of their life cycle require venture capital if they are to make their ideas marketable and expand. With Credit Suisse Entrepreneur Capital Ltd. we are not just investing in the companies themselves, but also seeking to ensure that Switzerland remains a globally leading center of innovation and business in the future too.”

Credit Suisse Entrepreneur Capital AG is primarily investing and looking to invest in Swiss start-ups and SMEs from all industry sectors with priority given to established companies that need capital to grow and expand, SMEs with significant regional importance and start-ups active in the robotics and automation, medtech and fintech sectors.

The invested amounts are typically in the CHF 250,000 and CHF 8 million range.

For larger investments Credit Suisse is jointly running the recently launched Swiss Entrepreneurs Fund with UBS.

Elios Elsener, CEO of Credit Suisse Entrepreneur Capital Ltd:

“Every week we receive an average of 15 financing enquiries, and that number is on the rise. Of the 52 investments implemented so far, 29 remain actively managed within the portfolio, with Helvetica Capital Ltd. managing the operational side. A number of stakes have been sold at a profit since 2010. “In contrast to the first few years, the vehicle is now profitable and self-sustaining.”

Zurich based start up Fotokite is one of the most recent companies supported by Credit Suisse Entrepreneur Capital AG. Called “Perspective Robotics” the company develops and produces tethered drones that can be operated autonomously over unlimited periods of time. It is a spin-off of ETH Zurich and was established back in 2014 having already 25 employees as of today. The investment Credit Suisse Entrepreneur Capital AG has made in the promising startup is a seven-figure.

More information on Credit Suisse Entrepreneur Capital AG can be found over the following link:

www.credit-suisse.com/entrepreneurcapital 

Credit Suisse has also partnered with STARTUPS.CH to offer entrepreneurs the opportunity to found their own company today free of charge and discounted memberships in the Swiss Venture Club and the Switzerland Global Enterprise have also been offered.

More on the Entrepreneurs’ Day is available at www.credit-suisse.com/entrepreneur

SOURCE: Credit Suisse