Privilège Ventures, focusing on seed and early-stage Deep and Medtech companies, announces the ﬁnal closing of its second Venture Capital Fund. To date, the firm has invested in 23 companies mostly in Switzerland and surrounding countries.
Privilège Ventures is the venture arm of Privilege Management SA with ofﬁces in Lugano and Zurich. Last year in February, Privilège Ventures announced the first closing of its second fund. Since the first closing, the firm has invested in nine companies and has just closed two additional investments on which they were working for the last few months. Privilège Ventures has invested in Swiss companies such as Annaida, Picstars, Gondola Medical, Distalmotion, Snowcookie, ScanTrust, Geosatis, Ava and Codecheck. The vast majority of the companies have closed follow-on rounds at higher valuations since our ﬁrst investment. Most are well positioned in their sectors, even after the current dislocations.
“The decision to close the fund in the current environment has not been easy as some of our LP’s pulled back, but ultimately we felt that closing and keeping our timeline for investments was the best course of action” commented Ruedin Rüsch, one of the two General Partners of Privilège Ventures.
The General Partners believe that it is time for action. For this reason, they are already working on the preparation of the launch of Fund III, which will be an “Opportunity Fund” with the goal to support the most promising portfolio companies and invest in their growth together with new target ones in their scaling phase. “After having talked with some investors we are convinced our new Opportunity Fund will be very well received by many as they will have higher visibility on the portfolio companies, and some will feel more comfortable as the level of risk will be reduced compared to seed investments” states Lucian Wagner, the other General Partner in Privilège Ventures.