Swiss Venture Capital Report 2025 H1 Update (SECA (Swiss Private Equity and Corporate Finance Association))

Summary

• The total number of financing rounds decreased by 10.1% to 124 rounds.p.2
• Biotech start-ups generated a record CHF 705 million in venture capital, dominating the largest investment rounds.p.2
• Investments in late stage rounds totaled CHF 660 million, down 5.5% compared to the previous year.p.7
• Canton Basel-Stadt recorded CHF 420.5 million in capital, driven by major biotech transactions.p.8
• US investors participated in roughly a quarter of all financing rounds, providing over CHF 520 million.p.9

Key insights

1. Overall deal count fell 10.1% to 124 financing rounds across the country.p.3
2. Late stage funding reached CHF 660 million, representing a 5.5% decline from the previous year.p.7
3. Canton Basel-Stadt secured CHF 420.5 million, breaking its previous H1 capital record.p.8
4. BioVersys completed an IPO on the Swiss stock exchange, raising CHF 80 million.p.10
5. Surveyed Swiss VCs hold 46.1% of their portfolio book value in Switzerland and 15.5% in North America.p.11
6. A total of 54% of surveyed investors expect entry valuations to fall over the next 12 months.p.12