Giano Capital, a pan-European venture capital firm, based in Geneva, Switzerland, has announced the launch of a €50 million Later Stage Fund. The VC firm invests in best-in-class Late Stage companies in the European tech and digital space. Driven by the mission to bring liquidity to the Secondary market is starting out to build the first European Single Asset Late Stage Secondary Fund.
Giano Capital is building a new category in VC investing in Europe, and bringing a much-needed structured solution to existing shareholders seeking liquidity and investment opportunities to new investors who previously had no access to these privately held companies.
Plans to invest up to €25M
The fund will invest in up to 15 companies primarily within Europe. The ticket sizes range from €2 million to €25 million including co-investments, which will be offered to its Limited Partners to maximize returns. In 2023 Giano Capital plans to make at least three more investments in fast-growing market-leading companies in the European tech- and digital space.
“We are convinced that the Secondary Market will establish itself in the coming years as a new growth market between early-stage private companies and the public markets. Our ambition is to develop Giano Capital as a key player in this space”, said Alberto Chalon, Founding Partner at Giano Capital. “We thank the many influential family offices, outstanding entrepreneurs, and tech pioneers that have joined our fund as Limited Partners. They share our vision that the late-stage secondary market is the best opportunity to seek high VC-like returns with limited PE-like risk.”
“The time-to-exit has almost doubled for start-ups between 2010 and 2023. The current macroeconomic environment with rising interest rates and falling tech valuations will further exacerbate the liquidity shortage for founders, business angels, and early-stage funds. At the same time, the market is also very appealing for new investors to invest in these top companies at attractive valuations”, said Andreas Wiele, Founding Partner at Giano Capital. “With Giano Capital we offer a great solution to become one of the leading matchmakers in this market.”
Notable first investment
The Swiss VC also announces its first investment in Finn.com, a car subscription platform in Germany and the US that is offering a true e-commerce experience for new cars. Finn is committed to revolutionising conventional car ownership and making driving a car as easy as online shopping. The company offers flexible subscription models for new cars, which are delivered free of charge within a few days.
“We are very happy to welcome Giano Capital as our investors, as Alberto and Andreas bring a very unique entrepreneurial experience that will help us in the future growth of our company way beyond the capital contribution”, said Maximilian Wühr, Co-Founder & CEO at Finn
