E76 [AI-Translated] EPFL AI-Launchpad | SwissHealth | M&A2025 | Swiss VC-Rendite | Vesting | HomeBuddy | Assaia | Ionic

In this episode, Max Meister and Guy Giuffredi discuss the key developments from the Swiss startup and venture-capital ecosystem. Topics include the launch of the EPFL and UBS AI Launchpad to support AI spin-offs, SwissHealth Ventures doubling the size of its evergreen digital-health fund to CHF 100 million, and Switzerland heading toward a record M&A year in 2025 despite a strong Swiss franc.

The main deep dive focuses on the first comprehensive performance study of Swiss venture-capital funds, published by the University of Basel together with SECA and Deep Tech Nation Switzerland. Based on real cash-flow data and covering more than CHF 3.5 billion in committed capital across vintages from 2000 to 2024, the study closes a major data gap in the market. It shows that Swiss VC funds invest around 30% of their capital and about 50% of their deals in Swiss startups, and that their performance is broadly in line with European benchmarks, with younger vintages outperforming on average. A fund-of-funds simulation further indicates that diversified VC exposure can deliver institutionally relevant returns.

In the listener question of the week, the hosts explain what “normal” vesting periods look like in startups, why four years with a one-year cliff remains the standard, and how competitive AI talent markets are leading to selective deviations from this model.

The episode concludes with the transactions of the week, including the acquisition of HomeBuddy, Assaia’s $26.6 million Series B, and new financings at Ionic Wind, Soverli, and Aukera Therapeutics.