After rebranding, Founderful launches its second fund for Swiss startups.
Switzerland is becoming an increasingly important player in the European VC arena.
The Zurich-based
venture capital firm Wingman Ventures has announced its rebranding as Founderful
and launched a $120 million second fund to invest in Swiss tech startups. The
company has already raised $85 million toward the new fund's target.
Swiss VC Firm Rebrands as
Founderful, Launches $120 Million Fund
Founded in
2019, Founderful provides early-stage capital and support to ambitious Swiss
startups. The firm typically invests at the pre-seed stage and has made nearly
50 investments from its first fund of $60 million, backing companies like Wingtra,
DePoly and Corintis. In total, Founderful's portfolio firm have gone on to
raise over $350 million in additional funding.
"Switzerland
is one of the world's fastest-growing venture capital markets," said Alex
Stöckl, a Partner at Founderful. "With the global shift towards more complex
technologies solving some of our society's most pressing challenges, it will
become one of the world's most important tech hubs."
Founderful
II is backed by institutional investors as well as founders of successful
startups like Duolingo, Climeworks, GetYourGuide and Delivery Hero. The firm
plans to focus its new venture on startups in areas like robotics, artificial
intelligence, computer vision and material sciences. It aims to work closely
with universities and industry partners.
"Our
fresh identity as Founderful reflects our purpose as a venture capital business
to have the deepest understanding of founders and give them the highest level
of support," said Lukas Weder, the Founding Partner at Founderful.
Switzerland to Become
Leading VC Ecosystems in Europe
Several key
trends back the Founderful thesis on investing in Swiss startups. Firstly, Switzerland
has maintained its position as the leader in the Global Innovation Index for 13
years in a row, excelling in technology, knowledge, and creativity. The country
boasts the highest number of patents per capita globally, and ETH Zurich is
renowned for generating the most university spin-offs worldwide.
“Founderful's
initiative to raise $120 million for Swiss tech and AI startups is very
exciting! With Switzerland's booming venture capital market and robust research
institutions, the potential for building successful startups is immense,”
commented Marcin Majewski, the Founder and Managing Partner at Aventis Advisors.
Secondly, The
attraction of major technology firms to Switzerland is notable, with Google
housing its largest tech office outside the U.S. and employing 5,000
developers. Other tech giants like Disney, Nvidia, Meta, Huawei, and Intel have
recently expanded their R&D teams in Switzerland.
“When
looking at our data, Switzerland has been on the rise as one of Europe’s
fastest growing VC ecosystems over the past five years, and in 2023 becoming
the fifth largest venture market on the continent only behind powerhouses UK,
Germany, France and Sweden,” commented Yoram Wijngaarde, the CEO and Founder of
Dealroom.
And thirdly,
Switzerland has earned the title of a Unicorn nation, with a higher density of
billion-dollar tech startups per capita than any other European country. Newly
successful unicorns such as Scandit, Climeworks, and SonarSource, along with
less visible but successful ventures like Proton, highlight Switzerland's
increasing importance in the global B2B technology sector.
The Zurich-based
venture capital firm Wingman Ventures has announced its rebranding as Founderful
and launched a $120 million second fund to invest in Swiss tech startups. The
company has already raised $85 million toward the new fund's target.
Swiss VC Firm Rebrands as
Founderful, Launches $120 Million Fund
Founded in
2019, Founderful provides early-stage capital and support to ambitious Swiss
startups. The firm typically invests at the pre-seed stage and has made nearly
50 investments from its first fund of $60 million, backing companies like Wingtra,
DePoly and Corintis. In total, Founderful's portfolio firm have gone on to
raise over $350 million in additional funding.
"Switzerland
is one of the world's fastest-growing venture capital markets," said Alex
Stöckl, a Partner at Founderful. "With the global shift towards more complex
technologies solving some of our society's most pressing challenges, it will
become one of the world's most important tech hubs."
Founderful
II is backed by institutional investors as well as founders of successful
startups like Duolingo, Climeworks, GetYourGuide and Delivery Hero. The firm
plans to focus its new venture on startups in areas like robotics, artificial
intelligence, computer vision and material sciences. It aims to work closely
with universities and industry partners.
"Our
fresh identity as Founderful reflects our purpose as a venture capital business
to have the deepest understanding of founders and give them the highest level
of support," said Lukas Weder, the Founding Partner at Founderful.
Switzerland to Become
Leading VC Ecosystems in Europe
Several key
trends back the Founderful thesis on investing in Swiss startups. Firstly, Switzerland
has maintained its position as the leader in the Global Innovation Index for 13
years in a row, excelling in technology, knowledge, and creativity. The country
boasts the highest number of patents per capita globally, and ETH Zurich is
renowned for generating the most university spin-offs worldwide.
“Founderful's
initiative to raise $120 million for Swiss tech and AI startups is very
exciting! With Switzerland's booming venture capital market and robust research
institutions, the potential for building successful startups is immense,”
commented Marcin Majewski, the Founder and Managing Partner at Aventis Advisors.
Secondly, The
attraction of major technology firms to Switzerland is notable, with Google
housing its largest tech office outside the U.S. and employing 5,000
developers. Other tech giants like Disney, Nvidia, Meta, Huawei, and Intel have
recently expanded their R&D teams in Switzerland.
“When
looking at our data, Switzerland has been on the rise as one of Europe’s
fastest growing VC ecosystems over the past five years, and in 2023 becoming
the fifth largest venture market on the continent only behind powerhouses UK,
Germany, France and Sweden,” commented Yoram Wijngaarde, the CEO and Founder of
Dealroom.
And thirdly,
Switzerland has earned the title of a Unicorn nation, with a higher density of
billion-dollar tech startups per capita than any other European country. Newly
successful unicorns such as Scandit, Climeworks, and SonarSource, along with
less visible but successful ventures like Proton, highlight Switzerland's
increasing importance in the global B2B technology sector.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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20-22 MAY 2024
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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