Private investors, family offices and institutional investors have committed more than 45 million francs in the first capital call for the Verve Venture Fund I launched by venture capital firm Verve Ventures with headquarters in Zurich. According to a press release, the successful first closing of the 100-million-franc fund will accelerate the development of Verve Ventures’ most successful startups.
The fund will invest in 15 to 20 science and technology-driven companies across Europe during an investment period of three years. It has already made its first investments, namely in Memo Therapeutics AG from Schlieren in the canton of Zurich, Flyability in Lausanne and cofenster in Hamburg. The portfolio of Verve Ventures currently includes more than 140 companies.
“We are looking forward to partnering with our very best portfolio entrepreneurs to grow them into world-leading champions in their field,” said Mike Hobmeier, Chief Information Officer at Verve Ventures, in the press release.
The second closing of the fund will take place in the fourth quarter of 2022 and is still open for qualified investors. It is structured as a Luxembourg SICAV-RAIF.