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Wednesday, 19 May 2021 03:38 GMT

Switzerland- Funding for start-ups barely dented by coronavirus


(MENAFN - Swissinfo) More than CHF2 billion of venture capital flowed into young Swiss companies for the second year in a row, a sustained rate of funding that defied the economic destruction wreaked by the pandemic last year.



This content was published on January 26, 2021 - 14:15 January 26, 2021 - 14:15 swissinfo.ch/mga

Investors poured more money into fledging cleantech and biotech projects in 2020 at the expense of ICT and particularly fintech companies. These are the findings of the annual Swiss Venture Capital reportExternal link released on Tuesday by startupticker.ch and the investor association SECA.

Despite a wobble last March, and to a lesser extent in October, funding for the year fell by just 7% to CHF2.1 billion ($2.37 billion) in 2020. This followed a record smashing 85.5% increase in venture capital (CHF2.3 billion) in 2019 , a rate of start-up financing that largely held firm last year despite many investors pulling back on risk in the face of Covid-19. In the first six months of 2020, investments fell by a third in value but rallied strongly in the second half of the year.

Investors spread their financing more thinly last year, avoiding the type of mega-deals worth more than CHF200 million that were a feature of 2019.

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