Venture Capital Firm Wingman Ventures Rebrands as Founderful and Raises $85M for New Fund
Zurich-based venture capital firm Wingman Ventures has undergone a rebranding, changing its name to Founderful. Alongside this announcement, the firm revealed that it has successfully raised $85 million for its new fund, with a target final close of $120 million.
Founded in 2019 by Pascal Mathis, Alex Stöckl, and Lukas Weder, Founderful focuses specifically on supporting Swiss tech startups in their mission to become leaders in the international market. The firm provides support starting from the startups’ first financing round.
Over the past four years, Founderful has made close to 50 investments. Notably, in 2023 alone, the firm made eight investments in Swiss startups. Its first fund, totaling $60 million, was invested into 40 startups. Through this funding, Founderful supported 109 founders who went on to create over 1,000 jobs. Additionally, the startups raised an impressive $350 million in additional funding. Among the notable investments made by Founderful are survey drone company Wingtra, plastics recycling innovator DePoly, and sustainable computing firm Corintis.
Founderful’s latest fund, Fund II, has been utilized to back startups in various sectors, which include alternative silicon chips, ESG reporting, security and manufacturing robotics, workplace skills, biomolecular analysis, lithium-ion batteries, and humanoid robotics.
The firm’s partnership extends to institutions, family offices, and founders of renowned global unicorns such as Duolingo, Climeworks, GetYourGuide, Delivery Hero, and Scandit. Founderful concentrates its efforts on the Swiss tech market, with a particular emphasis on B2B software and industrial technology sectors, including robotics, industrial automation, artificial intelligence and machine learning, computer vision technologies, as well as material sciences innovations in cleantech, climate tech, and construction tech.
Switzerland has long been recognized as a hub for innovation, maintaining its top ranking in the Global Innovation Index for the past 13 years. The country boasts the highest patent per capita ratio globally and houses leading tech developers and unicorn startups. Furthermore, Switzerland stands out for its notable concentration of billion-dollar tech startups per capita in Europe, demonstrating its significance as a major player in the global B2B technology landscape.
Analyst comment
Positive news:
– Venture capital firm Wingman Ventures rebrands as Founderful
– Successfully raises $85 million for new fund, with a target final close of $120 million
– Founderful focuses on supporting Swiss tech startups in becoming international leaders
– Made close to 50 investments in the past four years
– Supported 109 founders, created over 1,000 jobs, and helped startups raise $350 million in additional funding
– Notable investments include Wingtra, DePoly, and Corintis
– Fund II backs startups in various sectors, including alternative silicon chips, ESG reporting, and robotics
– Partnership with institutions, family offices, and founders of renowned global unicorns
– Switzerland recognized as a hub for innovation with leading tech developers and unicorn startups per capita
As an analyst, I predict that the market for Swiss tech startups and the B2B technology sector in Switzerland will continue to thrive, supported by Founderful’s rebranding and successful fundraising. The increased funding will enable the firm to support more startups and drive innovation in various sectors, further establishing Switzerland as a global player in the technology landscape.
