CHF 30 million for Swiss Fintechs

“SVC – Ltd. for Risk Capital for Swiss SMEs” was created by Credit Suisse in 2010 with a total venture capital of CHF 100 million to support Swiss SMEs as well as strengthening Switzerland's role as a center for business and employment. To date, around CHF 110 million 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.

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 CHF 30 million 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 CHF 30 million 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.

About SVC – Ltd. for Risk Capital for SMEs
SVC – Ltd. for Risk Capital for SMEs (SVC Ltd.) was founded in May 2010 in collaboration with the Swiss Venture Club as a wholly-owned subsidiary of Credit Suisse. Its stated aim is to create new jobs or secure existing ones and thus strengthen Switzerland's position as a center for business and employment. SVC Ltd. provides small and medium-sized enterprises and young entrepreneurs with venture capital totalling around 130 million Swiss francs. The beneficiaries are innovative companies in different stages of their life cycles from around the country. Helvetica Capital AG has been responsible for investment portfolio management on behalf of SVC AG since September 2015. The company is managed at strategic level by a broad-based Board of Directors with the support of an operations team.

(press release)