Zürcher Kantonalbank has announced the first close of its second Swiss Growth Fund, securing capital commitments of CHF 171.65 million.
The fundraising process began in March 2025 and has, within eight months, reached nearly the total amount raised by the first Swiss Growth Fund, which closed in March 2020 at CHF 180.6 million.
The number of investors has also risen from 36 in the previous fund to 45 in this second fund.
“The result reflects the trust placed in us by both existing and new investors, especially in a challenging fundraising environment,”
said Iwan Deplazes, Head of Asset Management at Zürcher Kantonalbank.
The final close of the fund is expected in the fourth quarter of 2026.
Until then, it will remain open to qualified investors with a long-term investment outlook and tolerance for illiquid positions.
Pension funds may also access the fund through the Swisscanto Investment Foundation.
Under Article 53, paragraph 1, letters dter and/or e of the Ordinance on Occupational Retirement, Survivors’ and Disability Pension Plans (BVV 2), these qualify as alternative investments in private equity and may be classified as unlisted Swiss investments.
Following this first close, the fund will begin investing in unlisted Swiss and European growth companies, focusing on healthcare, industrials, and information and data services.
While the majority of investments will target Swiss-based companies, Zürcher Kantonalbank’s Asset Management division also has access to opportunities abroad.
The Swiss Growth Fund II is the third programme within Zürcher Kantonalbank’s Private Markets initiative, alongside the first Swiss Growth Fund and the globally focused Decarbonisation Fund, which closed in October 2024.
“With nearly CHF 500 million in assets under management across three private equity programmes, and a growing team, we continue to strengthen our position in Swiss growth and decarbonisation investments,”
Deplazes added.
Featured image credit: Edited by Fintech News Switzerland, based on image by freepik
