Wingman Ventures: Swiss VC fund closes $83 million for startups

  • Swiss VC fund Wingman Ventures has closed an $83 million early-stage fund to invest in Swiss startups.
  • Wingman only invests in pre-seed and seed stage startups out of Switzerland, where it believes there is a significantly underserved tech ecosystem.
  • “Swiss founders have traditionally been funded by risk averse, corporate backers and don’t understand the broader tech ecosystem,” Wingman Ventures partner Alex Stöckl said.
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Swiss VC fund Wingman Ventures has closed a 76CHF million ($83 million) early-stage fund.

Wingman invests in pre-seed and seed stage startups out of Switzerland, where it believes there is a significantly underserved tech ecosystem.

The country of just 8 million people is one of the wealthiest nations in the world, but has a certain insularity which has prevented its growth as a tech ecosystem, according to Wingman Ventures founding partner, Alex Stöckl. 

“Swiss founders have traditionally been funded by risk-averse, corporate backers and don’t understand the broader tech ecosystem,” Stöckl said. “There are good universities, talent, and technical innovation here we just need to open the door for founders.”

In fact, 2019 saw a record 2.3CHF billion ($2.5 billion) invested in tech startups, which albeit tiny compared to the UK, Germany, or France, was an 85% uptick on the previous year, according to StartupTicker.ch. The number of startups getting investment is going up too.

The first-time fund closed its initial round last October at 36CHF million ($39 million) and has now finalized a second close which it believes is the largest ever first raise, early-stage fund in Europe. 

“We are fairly unique in our positioning but we believe there is a great opportunity here,” Stöckl added. He said that the fund’s deal-flow had been sky-rocketing in recent months and that the fund has already invested in 14 companies, and