Credit Suisse along with Swiss Venture Club (SVC) has set up a new company called SVC - Ltd to offer risk capital to Switzerland-based SMEs and start-ups.
Credit Suisse will make up to CHF100m of risk capital available to Swiss SMEs and start-ups through this venture.
SVC – Ltd will be headed by a team of experts from Credit Suisse, backed up by an independent investment committee. It will examine applications for financing, and provide finance in the form of equity or loans with profit sharing.
According to Credit Suisse, the purpose of the new company is to invest in established companies and start-ups, thus helping to create new jobs or secure existing ones. Capital that will flow back in the form of realized earnings and repaid loans will not be distributed but be reinvested.
Hans-Ulrich Meister, CEO of Credit Suisse Switzerland, said: “Entrepreneurial spirit and innovation form the foundations for the success of modern-day Switzerland. This initiative of setting up a new investment platform allows us to encourage entrepreneurship and thereby help to strengthen the Swiss economy. The new venture capital company will invest both in established businesses and in new start-ups, not least of all, helping them to expand abroad.”
Hans-Ulrich Muller, president of SVC, said: “The Swiss Venture Club has already been working closely with Credit Suisse since 2003 in the area of financing. As a cooperation partner, we are able to bring our experience and network of contacts to SVC – Ltd. for Risk Capital for SMEs.”