Venture capital (VC) firm Wingman Ventures has rebranded as Founderful, with an announcement that it has raised $85m for its new fund, with a goal of $120m.
The Zurich-based VC firm, which focuses on pre-seed startups, has a vast portfolio of 40 startups which it has already injected $60m into.
The new rebrand and fund, Fund II, will see Founderful “laser-focused” on the Swiss tech market.
The firm was founded in 2019 by Swiss unicorn GetYourGuide co-founder Pascal Mathis, former Switzerland lead at Creathor Ventures, Alex Stöckl, and EAT.ch co-founder Lukas Weder.
“We’re beyond grateful that we get to continue our work with the most ambitious founder teams of this exciting ecosystem,” Stöckl said.
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He added: “Switzerland is one of the world’s fastest-growing venture capital markets. With the global shift towards more complex technologies solving some of our society’s most pressing challenges, it will become one of the world’s most important tech hubs.”
The news comes as the value of venture financing deals in Switzerland peaked in 2022, according to GlobalData’s deal database.
In 2022, the value of venture financing deals in the country totalled $2.8bn, a significant increase from 2021 which totalled $1.6bn.
In 2023, the value of venture financing deals dropped from the year prior to $1.3bn.