Venture Capital • Private Equity – Swiss News Systems That Protect Their Own Secrets, Hoping, in Vain, I Think, That • Private Equity – Int

eNewsletter no. 395 Dear Reader 07 January 2014

The NSA knows everything that others try to keep secret, and now • SECA they are about to build a new computer using quantum physics • Venture Capital • Private Equity – Swiss News systems that protect their own secrets, hoping, in vain, I think, that • Private Equity – Int. News Edward Snowden has no disciples. • Corporate Finance Quantum physics has been around for a long time, and now it is • Mergers & Acquisitions • Management Buyout put to use. In Switzerland a band of 34 professors and about 300 • Book of the Week students work on a rival computer project, the QSIT super • Jobs • Agenda computer, that would use photons. Photons can transmit • Editor information faster than any other means. Photons are magic. The NSA knows. And Swiss venture investors? Toolbox Have a nice week! Print Newsletter Maiurice Pedergnana Send Newsletter to a Friend Download as PDF

SECA

Motion fordert Zukunftsfonds Schweiz

In einer Motion hat der Luzerner Ständerat Konrad Graber am 12.12.2013 einen Vorstoss eingereicht, der medial noch kaum Aufmerksamkeit erhalten hat. Dabei ist die Grundrichtung von grösster Bedeutung für das Land. Es geht um Langfristanlagen von Pensionskassen in zukunftsträchtige Technologien und einen Zukunftfonds Schweiz. Zum Anliegen: Der Bundesrat wird beauftragt, Änderungen von gesetzlichen Bestimmungen und Anlagerichtlinien im Sinne vorzuschlagen, dass Pensionskassen zukünftig in der Lage sind, in langfristige, zukunftsgerichtete Anlagen zu investieren. Weiter wird der Bundesrat eingeladen, einen privatwirtschaftlich organisierten und gehaltenen "Zukunftsfonds Schweiz" zu initiieren, welcher auf Wunsch der Pensionskassen deren zukunftsträchtigen Anlagen zur Betreuung übernimmt. SECA Breakfast Event: Luxembourg: a hub for Private Equity Funds

Wednesday, 15 January 2014, Au Premier, Zurich

This workshop will communicate the reasons Luxembourg has become an increasingly important jurisdiction for Private Equity and Venture Capital funds over the past years and the measures Lux-embourg is taking to maintain its leading financial position in Europe. Leading Private Equity and Venture Capital experts from Luxembourg and Switzerland will discuss issues such as fundraising, tax, legal and regulatory developments that affect the choice of jurisdiction and show the solutions Luxem-bourg presents for Swiss PE and VC funds.

more information and registration

SECA Evening Event Romande: Outlook 2014

Mercredi 29 janvier 2014, 17.00 - FER – Fédération des Entreprises Romandes, Rue de St-Jean 98, Genève

Venture Capital & Private Equity Trends L'année 2013 se termine en beauté pour les indices de fonds de private equity : toutes les régions principales et les maturités ont connu une année de hausse et même le venture capital (mis à mal ces dernières années) montre des signes de reprise. Les levées de fonds pour la classe Early Stage (capital démarrage) sont toujours hautement problématiques à tel point que l'union européenne se mobilise pour mettre en place des solutions de relance. La Suisse est à la traîne et l'initiative Swiss Fund mérite un soutient actif. Plusieurs études académiques récentes montrent l'effet positif du Private Equity sur l'emploi et les investissements, dans le climat négatif que nous continuons à vivre vis-à-vis de l'économie et de la finance, il nous semble important de souligner ces effets. Quels seront les grands enjeux pour 2014 ?

more information and registration

Venture Capital

Media Monitoring

idissu GmbH: Venture Capital für Existenzgründer und Start-ups

Entrepreneurs seek venture capital, even though it is ...

A round-up of venture-capital news and analysis from ...

Neue VC-Fonds, Crowdfunding & Co - Was 2013 für Startup ...

Asiens reichster Mann investiert in BitPay Annual b-to-v review 2013 b-to-v announced several highlights from its portfolio in recent weeks: Blacklane closed a double-digit million financing round, Linguee is used by more than 1m users on a daily basis and immatics Biotechnologies signed an important collaboration agreement with Roche. The exposure of b-to-v to the market as a venture capital company with large investor network was much higher than ever before.

Corporate venture capital is growing

Corporate venture capital (CVC) funds are on the rise. Consider the growing number of big companies creating funds to find promising startups: Google Ventures, Intel Capital, Qualcomm Ventures, Novartis Venture Fund, Samsung Ventures, AOL Ventures, Dell Ventures, Dow Venture Capital, Microsoft Ventures, and Citi Ventures. And that's just a short list.

Interessantes Startup

Cirrus Cloud Security Solutions AG (Cirrus) ist ein Spin-off der Firma e3 AG mit Sitz in Zürich, Schweiz (www.e3ag.ch). Cirrus wurde am 17. Mai 2013 mit dem Zweck gegründet, Daten- und Applikations-Schutzlösungen für Anwendungen in der Cloud zu entwickeln und zu verkaufen. Die beiden Gründungsaktion.re, e3 AG und RMC Advisory, halten je 50% am Aktienkapital der Gesellschaft.

Cirrus Short Profile Kurzbeschreibung

Naviswiss secures funding

On 20/12/13 it was announced that Naviswiss AG, a Laufen, Switzerland-based handheld, miniaturized surgical measuring, tracking, and navigation systems developer, has raised more than CHF 1 million in a first (Series A) round of funding. Almost than half of the investment was made by Verve Capital Partners AG, where private individuals invested CHF 220,000 and a family office CHF 250,000. Source: Zephyr

Private Equity – Swiss News

Blueprint Medicines Announces $25 Million Series B Financing Blueprint Medicines today announced the completion of a $25 million Series B financing. The oncology-focused venture capital investor from Switzerland, Nextech Invest, led the round, which also included founding investors Third Rock Ventures and Fidelity Biosciences as well as public investors Biotech Value Fund LLC, Casdin Capital LLC and other undisclosed investors. Thilo Schroeder, Ph.D., of Nextech Invest, will join the Blueprint Medicines Board of Directors.

Medienmitteilung

HBM Healthcare 9 Mte: Gewinn von über 240 Mio CHF erwartet

Die Beteiligungsgesellschaft HBM Healthcare Investments hat auf Basis des inneren Wertes einen konsolidierten Gewinn für die Neunmonats-Periode April bis Dezember 2013 von über 240 Mio CHF erwirtschaftet, dies nach einem konsolidierten Verlust von 16 Mio in der entsprechenden Vorjahresperiode. Nach dem Halbjahr hatte der Gewinn bei 173 Mio CHF gelegen.

Verschiedene Beteiligungen hätten erfreuliche Wertsteigerungen verzeichnet, heisst es. Die grössten Beiträge zum 9-Monatsergebnis stammen demnach aus den Investitionen in Basilea Pharmaceutica (+101 Mio CHF, Aktienkurs +92%), Ophthotech Corporation (+82 Mio/+525%), Pacira Pharmaceuticals (+42 Mio/+99%), SkyePharma (+19 Mio aus Aktienposition und Anleihe/+142%), ChemoCentryx (-13 Mio/-58%), Enanta Pharmaceuticals (+9 Mio/+50%) und PTC Therapeutics (+8 Mio/+41%).

Medienmitteilung

Shield Therapeutics¹ ST10 delivers robust results

Shield Therapeuticswww.shieldtherapeutics.com’ ST10 delivers robust results meeting both primary and secondary endpoints in the pivotal AEGIS Phase 3 programme for the treatment of iron deficiency anaemia in inflammatory bowel disease. Source: Zephyr

Press Release

Vaisala acquires 3TIER

On 17/12/13 it was announced that Vaisala Oyj has acquired 3TIER Environmental Forecast Group Inc., a Seattle, Washington-based renewable energy risk analysis, assessment and forecasting services company for EUR 10.7 million in cash. As the vendors, Good Energies Inc., and Good Energies AG (Zug, Switzerland) are selling their whole stake in the transaction, this makes this an exit. Source: Zephyr

VMCap PressRelease Knop appointed Investment Director Former Investment Manager Christof Knop has been appointed Investment Director at Vorndran Mannheims Capital (VMCap) as of January 1, 2014.

Press Release

Private Equity – Int. News

Media Monitoring

Springer SBM-Chef Derk Haank über Private Equity im ...

10 Jahre BMF-Schreiben zu Private Equity Fonds – seltene ...

CS schliesst Private Equity-Geschäft ab

Beteiligungsgesellschaften stossen auf neues Rekordjahr an

Telekomanbieter Sunrise: Auf der Suche nach dem Licht am Ende ...

Venture Capital Statistik Deutschland 2013: 321 Investments im ...

Private equity realises value in strong European exit market in 2013 ...

Private Equity Finanzinvestoren verdienten fast so gut wie 2007

Private Equity Finanzinvestoren haben 2013 Kasse gemacht

Neues Modell für Private-Equity-Transaktionen

Altium Capital agiert als Financial Adviser für Compudata bei ...

Private Equity: Investoren suchen solide Unternehmen

Private Equity für Max Mustermann

Schiffskredite: Commerzbank verkauft Portfolio mit Watson Farley

KKR: 4 Reasons To Buy After The KFN Acquisition

Alternate asset managers such as Kohlberg, Kravis and Roberts (KKR), Blackstone (BX) and Carlyle (CG) have been on a tear over the last two years for multiple reasons. First is the desire for large investor (read Pension Funds) to diversify beyond stocks and bonds into alternate investments that include Private Equity and Hedge Funds. The second is that this asset class provides both healthy growth stories...

Santander verkauft Immobilienverwaltungssparte für 664 Mio Euro an Private Equity Investor

Spaniens grösste Bank Santander verkauft ihre Immobilienverwaltungstochter Altamira Real Estate für 664 Millionen Euro an den US-Finanzinvestor Apollo. Nach Steuern erziele Santander damit einem Kapitalgewinn von 385 Millionen Euro. Santander folgt damit anderen Banken im Land: Viele Kreditinstitute bemühen sich derzeit, ihre Kapitalpolster aufzubessern und damit auch strengeren Vorgaben der Regulierungsbehörden nachzukommen.

Corporate Finance

Swisscom to acquire remaining stake in Swisscom IT Services Sourcing

On 18/12/13 it was announced that Swisscom AG is to acquire the remaining stake in Swisscom IT Services Sourcing AG, fromerly known as Sourcag AG, a Münchenstein, Switzerland-based payment transactions processing services provider. The remaining 20 per cent will be acquired from Basler Kantonalbank and Basellandschaftliche Kantonalbank. Source: Zephyr

Twintec increases stake in Baumont

On 20/12/13 it was announced that Twintec AG has increased its stake in Baumot AG Schweiz, a Glattpark, Switzerland-based diesel particulate filter products manufacturer. As consideration, Twintec issued 29.25 million new shares to Baumot and values the shares at around EUR 25,9 million. It has increased its stake with 70.3 per cent to a 95.3 per cent stake. Twintec has the option to acquire the remaining 4.7 per cent stake in Baumont. Source: Zephyr

Mergers & Acquisitions

Accu Holding takes over Nexis Fibers

On 11/12/13 it was announced that Accu Holding AG has purchased the remaining stake of 45 per cent in Nexis Fibers AS, a Humenné, Slovakia-based technical special fibres manufacturer. The consideration was CHF 12.3 million. Source: Zepyhr

AFG Arbonia-Forster-Holding takes over PZP Heating

On 18/12/13 it was announced that AFG Arbonia-Forster-Holding AG has acquired PZP Heating AS, a Dobre, Czech Republic-based electric motors for heating manufacturer. Source: Zephyr

Ascom Holding to acquire GTM Resources

On 23/12/13 it was announced that Ascom Holding AG has signed an agreement to acquire all shares of GTM Resources Pty Ltd, a Chippendale, Australia-based wireless communication systems manufacturer which owns Integrated Wireless Pty Ltd. The consideration is up to AUD 10 million with a cash and debt free equity value of AUD 9 million, cash assumed of AUD 5 million and an earn-out payment of up to AUD 1 million, dependent on the achievement of agreed revenue and profitability targets. Source: Zepyhr

Bühlmann Recycling acquires REVAG

On 11/12/13 it was announced that Bühlmann Recycling AG has acquired Regionale Entsorgungs- und Verwertungsanlage Spiez AG (REVAG), a Spiez, Switzerland-based recycling services provider. Source: Zephyr

DEAG acquires remaining stake in AIO Group from Ringier

On 18/12/13 it was announced that DEAG Deutsche Entertainment AG has acquired the remaining 48 per cent in AIO Group AG, a Glattpark, Switzerland-based concert and event organisation holding company, from Ringier Holding AG. It was also reported that Mr Patrik Tkác and Mr Daniel Kretínský are planning on taking over Ringier Axel Springer CZ AS, a Prague, Czech Republic-based newspaper publisher. The consideration might be over CZK 5 billion and the deal is to be completed in January 2014. Source: Zephyr

EFG International kauft Hongkong-Geschäft von Falcon Private Bank

Nach einer jahrelangen Schrumpfkur schwenkt die Schweizer Privatbank EFG International um. Die von der griechisch-schweizerischen Reeder-Familie Latsis kontrollierte Bank kauft das Hongkong-Geschäft der Falcon Private Bank. Experten gehen davon aus, dass Standorte wie Hongkong nur mit verwalteten Vermögen von mehreren Milliarden Franken rentabel betrieben werden können. Insgesamt verwaltet Falcon weltweit rund 16 Mrd. Franken an Kundengeldern.

Per Juni 2013 beschäftigte EFG International in Asien 99 Kundenberater und verwaltete Vermögen in der Höhe von 14,8 Mrd CHF. Die Falcon Private Bank in Hongkong verwaltet Vermögen von rund 800 Mio. Es werde damit gerechnet, dass ein Grossteil davon letztlich an EFG übergehen werde, hiess es in der Medienmitteilung von EFG International.

Press Release Google buys 8 robotics companies in 6 months: Why?

Google's (GOOG) acquisition of military robotics maker Boston Dynamics has certainly gotten tongues wagging but has left one key question unanswered: Why? These deals are the clearest indication yet that Google is intent on building a new class of autonomous systems that might do anything from warehouse work to package delivery and even elder care.

Google, which has a market capitalization near $400 billion, probably didn't break a sweat buying Boston Dynamics or the seven other robotics companies it has acquired in the past six months. The company has been making a splash with its robotics research for a while. Google has been testing driverless cars since 2010 and according to its research, these vehicles were operated more safely with computer drivers than human ones. Google reportedly is in regular contact with automakers about its work in this area.

Indutrade acquires AP Tobler

On 19/12/13 it was announced that Indutrade AB has acquired AP Tobler AG Metalveredlung, an Unterentfelden, Switzerland-based pharmaceutical industry stainless steel and aluminium treatment services provider. After transaction, Tobler will become part of Ateco Services AG. Source: Zephyr

Phoenix Mecano übernimmt niederländische Hitec SMS

Der Komponenten- und Gehäusehersteller Phoenix Mecano stärkt seine Sparte ELCOM/EMS durch eine Übernahme. Per Anfang Januar wurden sämtliche Anteile der niederländischen Hitec Special Measuring Systems (Hitec SMS) erworben. Über den Kaufpreis sei Stillschweigen vereinbart worden, teilt das Unternehmen am Freitag mit. An der Börse wird die Akquisition honoriert.

Puch Corporation to acquire site in St Ursanne from Benteler

On 17/12/13 it was announced that Punch Corporation is to acquire the site in St. Ursanne, Switzerland from Benteler International AG, a aluminium automotive parts manufacturer. Source: Zephyr

Sintetica acquires Meduna Arzneimittel

On 20/12/13 it was announced that Sintetica SA has acquired Meduna Arzneimittel GmbH, an Aschaffenburg, Germany-based pharmaceuticals in the hospital sector wholesaler. Source: Zephyr Swisspower to acquire German Windparks from Acciona Energía Internacional

On 19/12/13 it was announced that on 18/12/13 Swisspower Renewables AG has signed an agreement to acquire 18 Onshore Windparks in Germany from Acciona Energía International SA, an Egues, Spain-based renewable energy asset management services provider. The deal has a total value of EUR 157 million, including a debt of EUR 85 million. Source: Zepyhr

The Descartes Systems Group acquires Compudata for CHF 16m

On 23/12/13 it was announced that The Descartes Systems Group Inc., has acquired Compudata AG, an Allschwil, Switzerland-based B2B supply chain integration and e-invoicing solutions provider, for a cash consideration of CHF 16 million. Source: Zephyr

Management Buyout

Nestlé verkauft Geschäft mit US-Tiefkühl-Pasta an Brynwood Partners

Nestlé hat bestätigt, das US-Geschäft mit Tiefkühlpasta unter der Marke Joseph's Pasta an die Buyout-Gesellschaft Brynwood Partners zu veräussern. Joseph's Pasta beschäftigt mehr als 300 Personen und wurde 2006 von Nestlé übernommen. Brynwood Partners wolle durch die Akquisition die Produkteinnovation vorantreiben und neue Absatzkanäle erschliessen, gemäss der Medienmitteilung. Das Buyout-Unternehmen beansprucht für die Transaktion Gelder eines neu geschaffenen Fonds (Brynwood VII) mit 400 Mio USD Kapital. Für Brynwood Partners ist die Übernahme von Joseph's Pasta der fünfte Zukauf eines Unternehmensteils von Nestlé. So erwarb die US-Gesellschaft 2013 die Marke "Bit-O-Honey" vom Lebensmittelkonzern.

Book of the Week

AIFMD Essentials

A guide to the Alternative Investment Fund Managers Directive

Jobs

How to publish a job ad

On this place your Job ad could be published.

If you are interested please send an e-mail with your job ad, the company logo and a short description about the Job and/or the Company to [email protected].

for SECA Members CHF 100.- / 2 Weeks

for Non-Members CHF 200.- / 2 Weeks

Agenda

German Private Equity Conference 2014

Friday, 24 January 2014, Steigenberger Frankfurter Hof Hotel, Frankfurt

The German Private Equity Conference is a conference dedicated to Private Equity Management companies, funds, venture capitals, Limited Partners, wealth managers and lawyers that facilitates a unique platform for discussions, insights, and networking opportunities. It is a one-day concentrated event with exciting keynote speakers, thrilling panel discussions, and valuable networking opportunities for CEOs, partners, managing directors among other influential business people. For more information please visit the official homepage.

SECA members profit from a 15% discount on early-bird tickets and a 30% discount on regular tickets. For the registration please use the following link.

4. Tagung zu Private Equity Entwicklungen, Themen und Spannungsfelder

Mittwoch, 29. Januar 2014, Metropol, Zürich

In den ersten drei Tagungen zu Private Equity wurden die Grundpfeiler von Venture Capital, Buy-outs und Exits sowie Regulierung von Fonds und Fondsmanagern dargestellt. An dieser vierten Tagung werden darauf aufbauend aktuelle Entwicklungen in diesen Gebieten aufgezeigt sowie aktuelle praktische, rechtliche und rechtspolitische Themen und Spannungsfelder analysiert. Neben dieser Durchdringung sorgt die reiche Erfahrung der Referenten für Praxisnähe und Lösungsbezug. weitere Informationen und Anmeldung

Journée du Conseil d’administration

Lausanne, le 30 janvier 2014, 9h00 - 16h00

La Journée du Conseil d’administration s’adresse aux membres de conseils d’administration et de directions générales d’entreprises cotées et non cotées de Suisse Romande. Elle leur propose un forum pluridisciplinaire de qualité consacré à la fonction d’administrateur. Pour plus d’information : www.swissboardinstitute.ch.

8th Swiss-Scandinavian Bio-Business Seminar

Wednesday, 12 February 2014

The 8th Swiss-Scandinavian Bio-Business Seminar is organized by the Nordic countries in cooperation with Swiss partners. During this high-level partnering and investor conference, Swiss and Nordic biotech and pharmaceutical companies as well as investors meet in one-to-one meetings and present themselves in plenum. For more information please visit the official homepage. For the registration use the following link.

SuperReturn International 2014

25 - 27 February 2014, InterContinental Hotel, Berlin

SuperReturn International remains the key global industry gathering with 1,400 senior industry members, including 350 LPs, attending annually for an insightful and productive week of meetings, networking and learning.

more information and registration

Forthcoming SECA Events - save the date

SECA Breakfast Event: Luxembourg: a hub for Private Equity Funds - 15 January 2014, Au Premier, Zurich

SECA Evening Event - Outlook 2014 22.01.14, Widder Hotel, Zurich

SECA Annual General Meeting 07.05.14, Widder Hotel, Zurich

13. Swiss Private Equity and Corporate Finance Conference 24.06.14, SIX Convention Point, Zurich

Top 100 Startups 2014 24.09.14

Forthcoming Young SECA Events Young SECA Get together, Geneva 16.01.14

8. Young SECA Get Together 03.04.14

SECA Annual General Meeting 07.05.14, Widder Hotel Zurich

Swiss Private Equity and Corporate Finance Conference 24.06.14, SIX Convention Point, Zurich

9. Young SECA Get Together 21.08.14

Top 100 Startups 2014 24.09.14

10. Young SECA Get Together 20.11.14

Forthcoming related Events

Go Beyond Investing In France - Part 1 14.01.14, Webinar

Go Beyond Virtual Awareness Session 15.01.14, Webinar

Go Beyond Virtual Investment Event 15.01.14, Webinar

Go Beyond Investing In France - Part 2 16.01.14, Webinar

Go Beyond Company Valuation - Part 1 20.01.14, Webinar

Go Beyond Company Valuation - Part 2 22.01.14, Webinar

Eröffnungsanlass wipswiss 23.01.14, Zürich

4. Tagung zu Private Equity Entwicklungen, Themen und Spannungsfelder / 29.01.14, Metropol, Zürich

8th Swiss-Scandinavian Bio-Business Seminar 12.02.14, SIX ConventionPoint, Zurich

SuperReturn International 2014 25-27.02.14, InterContinental Hotel, Berlin

Editor

SECA eNewsletter is a free online newsletter published by Maurice Pedergnana, Managing Director of the SECA Swiss Private Equity & Corporate Finance Association, received by more than 3'000 email addresses. More information: www.seca.ch or +41 41 757 67 77 (Andrea Villiger). The eNewsletter archive service is available only for SECA members.