Just 60 days after the first close of its Capital Fund III, Privilège Ventures added five startups to its investments portfolio. The firm plans to expand the portfolio to include up to five startups in the next six months.
On 30th April, Privilège Ventures announced the first close of Fund III with a target size of CHF20 million. Since then, Fund III grew its portfolio to five companies. Lucian Wagner, the other General Partner, said: “The portfolio was built focusing on seed and early-stage companies based mainly in Switzerland. We concentrate on disruptive ideas that can contribute to the creation of a better world. We then take a careful look at the team because they have to make it come true.”
In addition to the recent capital injection in Foodtech startup, AgroSustain and industrial solutions provider Cyltronic as announced on Startupticker, the VC firm has welcomed Hydromea SA and Biospectal SA from Switzerland. The firm also further invested in Barcelona-based Byhours, the first Privilège venture capital fund portfolio from the new Fund.
Hydromea, a Renens-Lausanne company that has developed the world’s first portable wireless underwater drone to inspect complex water-filled spaces for the oil, gas and shipping industries. The products and solutions they develop allow customers to have autonomous high-speed and high-volume subsea data access in real-time.
The Lausanne based company Biospectal also joined the portfolio. The startup developed the OptiBP smartphone app and data platform to allow people worldwide to measure and monitor their blood pressure in a medically traceable way, anytime and anywhere, simply by putting their finger on a smartphone camera.
Privilège expects to make another 4-5 investments in the next 6 months. A second fund closing is planned for the fourth quarter of this year, and sizeable pre-commitments have already been locked in.