Verve Ventures has raised its first venture capital fund and closed the first capital call with over 45 Mio. CHF committed capital, from private investors, family offices, and institutional investors. The fund will accelerate the development of Verve Ventures’ most successful startups.
The “Verve Venture Fund I” with a target size of CHF100 million invests in the best-performing startups among the company’s portfolio of currently more than 140 companies. It will accelerate the development of 15-20 companies with a solid track record at attractive valuations.
Verve Ventures’ investment team has honed its experience over the past 12 years and become one of the most active ones in Europe. The fund will invest in 5-7 companies per year during an investment period of 3 years, followed by a 5-year harvesting period. It will invest across Europe in science and technology-driven companies.
The Verve Venture Fund I has already made its first investments, namely in Memo Therapeutics AG (Schlieren, Switzerland), Flyability (Lausanne, Switzerland), and cofenster (Hamburg, Germany). Further investments will be announced soon.
"From fighting diseases like the Coronavirus using antibody discovery to moving drones out of the toybox into real industrial use: the first batch of Verve Venture Fund investments demonstrates the breadth of outstanding companies in Verve's portfolio. We are looking forward to partnering with our very best portfolio entrepreneurs to grow them into world-leading champions in their field," said Mike Hobmeier of Verve Ventures.
The second closing of the fund will take place in Q4/2022 and is still open for qualified investors. It is structured as a Luxembourg SICAV-RAIF.
(Press release / SK)
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