Forestay: The VC Fund That’s Ruling the Roost in European Enterprise Startups
Behind the scenes, a Swiss-based venture capital firm is quietly dominating the European startup scene. Forestay, founded by the Bertarelli family, has just closed its second fund, Forestay Capital II, with a whopping $220 million. But don’t be fooled, this isn’t just another VC fund – it’s a force to be reckoned with.
The Dark Horse of European Venture Capital
Until recently, Forestay was flying under the radar, but its impressive track record and savvy investments have made it a hot commodity in the startup world. With a focus on enterprise AI and SaaS, Forestay has backed 13 companies, including Scandit, which has raised a staggering $273 million.
The Sweet Spot of Series B Rounds
Forestay’s bread and butter is leading growth rounds of $10M-$15M, typically at the inflection point of a company’s growth. This is where the magic happens, and Forestay’s "nearly-growth" fund has seen three of its portfolio companies reach unicorn status and two get acquired.
The Swiss Connection
Switzerland may be known for its chocolate and banking, but Forestay’s presence is a testament to the country’s thriving startup ecosystem. With its proximity to the European market and access to top talent from the Swiss Federal Institute of Technology, Forestay is well-positioned to scoop up the best and brightest.
A New Player in the Game
But don’t count out Forestay’s competition just yet. With a strong network of connections and a clear vision, this VC fund is poised to disrupt the status quo. Led by Frederic Wohlwend, the former Global Chief Digital Officer of Merck KGaA and Serono, Forestay is not to be underestimated.
The Firmenich Factor
Anaïs Ventures, the investment vehicle for certain members of the Firmenich family, has also backed Forestay. This may seem like a small detail, but it’s a nod to the family’s entrepreneurial spirit and willingness to take risks.
The Rise of Southern Europe
As the European startup scene continues to evolve, Forestay is taking note. With Portugal’s Stratio and Switzerland’s Neural Concept under its belt, the fund is eyeing the opportunities in Southern Europe.
The Verdict
Forestay may be a relatively new player in the VC landscape, but its impact is already being felt. With its focus on enterprise AI and SaaS, Forestay is carving out a niche that’s both profitable and exciting. Whether you’re a startup looking for funding or an investor looking for a smart bet, Forestay is definitely worth keeping an eye on.
Author: Kayitsi.com
