Swiss start-ups attract CHF 2.9 billion in 2025 as venture capital rebounds

Swiss start-ups raised CHF 2.9 billion in venture capital in 2025, representing a 23.9% increase compared to the previous year, according to the Swiss Venture Capital Report 2026. Published by startupticker.ch and SECA in cooperation with startup.ch, the report signals a clear turnaround after two years of declining investment volumes

Despite ongoing geopolitical uncertainty and sluggish global growth, venture capital funds invested across 354 financing rounds, a figure that remained broadly stable year-on-year. Investor confidence was particularly visible at the early stages: investment in young and very young companies rose sharply to more than CHF 1.4 billion, up from CHF 864 million in 2024, indicating a renewed appetite for risk.

Sectoral dynamics shifted notably. ICT start-ups recorded a strong recovery, with investment volumes rising by nearly 150% year-on-year. Biotech reached a new record, attracting CHF 946 million and confirming its long-term growth trajectory. By contrast, cleantech and fintech investment remained under pressure, although cleantech continued to generate a high number of financing rounds. One third of the CHF 386 million invested in cleantech went to Climeworks, which secured CHF 128 million in one of the year’s largest rounds.

Zurich once again led the cantonal rankings in both capital invested and number of rounds, followed by Vaud and Basel-Stadt. Basel-Stadt stood out for its concentration of biotech investment, with 95% of capital flowing into the sector.

The exit market showed signs of renewed momentum. Two Swiss start-ups completed IPOs in 2025, while company valuations improved, with several acquisitions exceeding CHF 100 million. Looking ahead, investor surveys suggest cautious optimism, with most funds planning to increase investment activity despite continued challenges in fundraising.