Switzerland-headquartered financial services firm Credit Suisse added CHF70m to its Entrepreneur Capital fund on Wednesday to increase its overall size to CHF200m ($199m).
Entrepreneur Capital, which is managed by private equity firm Helvetica Capital, has already invested almost $130m in 52 small-to-medium-sized companies based in Switzerland, and still holds stakes in 29 of those.
The fund has a largely sector-agnostic approach, through robotics, automation, medical and financial technology are all areas of interest. It seeks companies that need funds to grow and expand, as well as small businesses that promote local jobs, typically investing between $250,000 and $8m.
Entrepreneurs Capital is separate to Swiss Entrepreneurs Fund, the investment fund Credit Suisse manages in partnership with another domestic bank, UBS.
The most recent deal disclosed by the fund involved it investing an undisclosed an undisclosed seven-figure amount in Perspective Robotics, the developer of the Fotokite autonomous drone, this week.
Fotokite is an unmanned aerial vehicle equipped to help public safety teams to photograph incidents or inspect industrial facilities from a safe distance.
Didier Denat, chairman of Credit Suisse Entrepreneur Capital, said: “Turning a vision into reality and facilitating progress require capital. (Credit Suisse founder) Alfred Escher recognised this back in the 19th century, and it is no less true nowadays.
“In particular, young companies at the beginning of their life cycle require venture capital if they are to make their ideas marketable and expand.
“With Credit Suisse Entrepreneur Capital we are not just investing in the companies themselves, but also seeking to ensure that Switzerland remains a globally leading centre of innovation and business in the future too.”