Traditionally, innovation consulting for large corporates was an important source of revenue for the Swiss Startup Group. As this revenue stream eroded, SSUG will strengthen its focus on investments. A financing round has already been closed and another fund vehicle will be launched soon.
The Swiss Startup Group (SSUG) took the Covid-19 crisis and the changed market environment as an opportunity to thoroughly analyze and reposition its existing business model. In the course of this, the group structure was simplified, and the Swiss Startup Group will act going forward as a financial company and venture platform, with the clear aim of managing its strategic investments and of best possibly supporting its financial investments in their development through its venture platform.
The strategic investments of the Group including companies like the Swiss Startup Factory, BV4 or Westhive will continue to operate as in the past. At the same time the Group will develop its financial investments. Already this year SSUG invested in companies. A new financing round made possible by the strong shareholder base consisting of exceptional Swiss entrepreneurs and investors prepared the ground for further expansion. With the fresh capital the focus on the investment activity will be further increased and the group’s investment branch expanded. Simultaneously, with the completion of the financing round, the Board of Directors will be extended with two proven entrepreneurs and investors – Jean Claude Bregy and Eric Sarasin.
Mike Baur, CEO of the Swiss Startup Group, explains: “This year’s Covid-19 crisis has exposed the weaknesses in our business model. We responded very quickly to this and adapted to the new market conditions. We will now focus on the future and the challenges that lie ahead. I look forward to tackling these together with our great team and our investors”.
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