Swiss start-ups attract CHF 1.47 billion in first half of 2025

Swiss start-ups raised CHF 1.47 billion in the first half of 2025, with biotech and fintech driving growth despite fewer deals and cautious investor sentiment.

Venture capital investment in Swiss start-ups surged to CHF 1.47 billion during the first half of 2025, marking a 36% increase compared to the same period in 2024, according to the Swiss Venture Capital Report Update 2025. Despite the strong figures, the increase was driven primarily by a handful of large biotech and fintech transactions, as overall deal activity continued to decline.

The number of financing rounds fell to 124, down from 138 a year earlier, representing the third consecutive half-year decline. This signals ongoing difficulties for many early-stage companies seeking funding. According to the report, the positive investment totals stem from high-value transactions concentrated in a few companies rather than a broad-based recovery.

Biotech leads with record-breaking deals

Biotech emerged once again as the leading sector, attracting CHF 705 million in capital, a new record for a six-month period. These investments were largely driven by advanced drug development programs and experienced founding teams, positioning Swiss biotech firms as global innovation leaders.

Other sectors also showed signs of recovery. ICT start-ups raised CHF 247 million, up 86% from H1 2024, while fintech companies secured CHF 153 million, a 93% increase. Notably, Zurich-based Sygnum Bank became Switzerland’s latest unicorn, achieving a valuation exceeding USD 1 billion in a recent funding round.

Cautious outlook among investors

Despite these standout performances, the broader investment environment remains challenging. The report highlights investor concerns about fundraising and exit opportunities over the coming year. A majority of venture capital firms expect their ability to raise capital or sell portfolio companies to deteriorate further.

However, the continued success of high-performing start-ups demonstrates the ecosystem’s resilience. These high-flyers show that, even amid economic uncertainty, Switzerland remains an attractive destination for international venture capital, particularly in sectors such as biotech, digital assets and deeptech.