“SVC – Ltd. for Risk Capital for Swiss SMEs” was created by Credit Suisse in 2010 with a total venture capital of 100 million Swiss francs to support Swiss SMEs as well as strengthening Switzerland's role as a center for business and employment. To date, around 110 million Swiss francs has been invested in 44 companies – with some of these investments having already been successfully sold again at a profit. In 2017 SVC invested in Tradplus24 and in Scantrust. Companies that have been sold include for example Poken and Mesa Imaging.
Aimed at companies domiciled in Switzerland or with a clear connection to the country
While investing in SMEs from the financial services sector had not been envisaged until now, a new investment cluster for fintechs is to be created with the provision of an additional 30 million Swiss francs in venture capital. Here, the focus is on companies that develop and commercialize digital innovations in finance. Support is offered to fintechs that are either domiciled in Switzerland or have a clear connection with the country. Investments are decided by a specifically constituted Fintech Investment Committee.
"As the leading bank for entrepreneurs, one of our key objectives is to strengthen and promote Switzerland's role as a center for business and employment through various measures. These measures include the provision of venture capital for SMEs with growth potential. The additional 30 million Swiss francs in investment capital is a clear signal of SVC Ltd.'s support for Switzerland as a fintech hub. At the same time, our commitment allows us to connect with innovative companies offering solutions that might be of interest to us as a bank or to our clients", said Didier Denat, Chairman of the Board of Directors of SVC – Ltd. for Risk Capital for SMEs and Head of Corporate & Investment Banking at Credit Suisse (Switzerland) Ltd.
(press release via startupticker.ch)
