Olya Klueppel

Our portfolio company Retinai announced today the successful closing of its USD 6.18m (CHF 5.65m) Series A Extension round. ‍ Led by a new investor, the Corporate Venture Capital arm of Topcon Healthcare, the round included Zürcher Kantonalbank alongside existing investors from both Series A and Seed rounds, Verve Ventures, the btov Industrial Technologies fund managed by Matterwave Ventures, and private investors. ‍ To facilitate its evolution and growth, the company has also concluded its corporate restructuring, with RetinAI Medical AG rebranded as Ikerian AG to spearhead the use of its technology beyond ophthalmology and the wholly-owned subsidiary Retinai U.S. Inc. focused on the ophthalmology market. The new funds will support the continued development and commercial roll out of RetinAI Discovery® in ophthalmology and optometry and Ikerian's expansion into new therapeutic areas prioritizing neurodegenerative disorders, vascular conditions and rare diseases. Read the full press release: https://lnkd.in/gxW54UEu #fundingnews #retinai #ai #ophtalmology #technology #health #optometry

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Interesting interview with Ken Rogoff on rates, inflation and volatility expectations for next decade. His point— we’re not going back to the ‘10’s, and investors should adjust their mindset. “Consequently, realistic investors should understand that even if central banks manage to rein in inflation now, it is bound to return sooner than most forecasts currently predict. I don’t want to be hysterical about it, but I think we’ll have, let’s say, one more episode over the next seven or eight years like the one we just had.” #inflation #rates #recession #volatility #centralbanks

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There are a lot of books that shaped my investment philosophy: here are few gems from re-reading “𝗧𝗵𝗲𝗿𝗲'𝘀 𝗔𝗹𝘄𝗮𝘆𝘀 𝗦𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝘁𝗼 𝗗𝗼: 𝗧𝗵𝗲 𝗣𝗲𝘁𝗲𝗿 𝗖𝘂𝗻𝗱𝗶𝗹𝗹 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗔𝗽𝗽𝗿𝗼𝗮𝗰𝗵” https://lnkd.in/d-rGR54Y, which - even more than 𝗧𝗵𝗲 𝗜𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 (which is a good starting point for neophytes but it's too basic for experienced practitioners) for me encompasses 𝘁𝗵𝗲 𝗿𝗲𝗮𝗹 𝘃𝗮𝗹𝘂𝗲 𝗼𝗳 𝘃𝗮𝗹𝘂𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 (which is NOT buying low prices stocks...). 𝟭) 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 ≠ 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝗶𝗻𝗴 “I think that 𝗶𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝘁 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝗶𝗻𝗴 (𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗿𝗲𝘃𝗲𝗻𝘂𝗲𝘀, 𝗲𝗮𝗿𝗻𝗶𝗻𝗴𝘀, 𝗲𝘁𝗰.) 𝘀𝗵𝗼𝘂𝗹𝗱 𝗻𝗼𝘁 𝘀𝗲𝗲𝗸 𝘁𝗼 𝗽𝗿𝗲𝗱𝗶𝗰𝘁 𝘄𝗵𝗮𝘁 𝘄𝗶𝗹𝗹 𝗶𝗻 𝗳𝗮𝗰𝘁 𝗵𝗮𝗽𝗽𝗲𝗻 𝗶𝗻 𝘁𝗵𝗲 𝗳𝘂𝘁𝘂𝗿𝗲. […] Forecasting should be used as a device to put both problems and opportunities into perspective. It is a management tool, but it can never be a substitute for strategy, 𝗻𝗼𝗿 𝘀𝗵𝗼𝘂𝗹𝗱 𝗶𝘁 𝗲𝘃𝗲𝗿 𝗯𝗲 𝘂𝘀𝗲𝗱 𝗮𝘀 𝘁𝗵𝗲 𝗽𝗿𝗶𝗺𝗮𝗿𝘆 𝗯𝗮𝘀𝗶𝘀 𝗳𝗼𝗿 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀.” 2) Common traits that the best analysts share “Curiosity is the engine of civilization. If I were to elaborate it would be to say 𝗿𝗲𝗮𝗱, 𝗿𝗲𝗮𝗱, 𝗿𝗲𝗮𝗱, 𝗮𝗻𝗱 𝗱𝗼𝗻’𝘁 𝗳𝗼𝗿𝗴𝗲𝘁 𝘁𝗼 𝘁𝗮𝗹𝗸 𝘁𝗼 𝗽𝗲𝗼𝗽𝗹𝗲, 𝗿𝗲𝗮𝗹𝗹𝘆 𝘁𝗮𝗹𝗸, 𝗹𝗶𝘀𝘁𝗲𝗻𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗮𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗵𝗮𝘃𝗶𝗻𝗴 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻𝘀, 𝗼𝗻 𝘄𝗵𝗮𝘁𝗲𝘃𝗲𝗿 𝘁𝗼𝗽𝗶𝗰, 𝘁𝗵𝗮𝘁 𝗮𝗿𝗲 𝗮𝗻 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗼𝗳 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝘀. Keep the reading broad, beyond just the professional. This helps to develop one’s sense of perspective in all matters.” 3) Intelligence is only part of the equation:  “𝗝𝘂𝘀𝘁 𝗮𝘀 𝗺𝗮𝗻𝘆 𝘀𝗺𝗮𝗿𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝗳𝗮𝗶𝗹 𝗶𝗻 𝘁𝗵𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗮𝘀 𝘀𝘁𝘂𝗽𝗶𝗱 𝗼𝗻𝗲𝘀. Intellectually active people are particularly attracted to elegant concepts, which can have the effect of distracting them from the simpler, more fundamental, truths.” And – even more important – the text in the image below: it was valid when it was written in 1971, and is still valid today One of my “highly recommended” readings with 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗥𝗲𝘁𝘂𝗿𝗻𝘀 https://lnkd.in/dz4KEhdx and Seth Klarman’s 𝗠𝗮𝗿𝗴𝗶𝗻 𝗼𝗳 𝗦𝗮𝗳𝗲𝘁𝘆. 

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The Lucerne Alternative Investments Fund (LAIF) July 2024 Factsheet is now live on our website.   Our report explores the cyclical nature of big-idea investing and the consequences for investors, where initial hype and inflated expectations often lead to disappointment when performance falters.   You can read our insights and analysis at the link below: #alternatives #Alts #investments #performance

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Did you visit the new website of Format Vermögen & Anlagen already? In German: https://lnkd.in/erg8x_cr In English: https://lnkd.in/e_pPbVD7 @asset management @investments @equity

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The results of the study reinforce that companies with employees in Switzerland should actively and regularly review their pension fund arrangements to ensure they are getting competitive rates and appropriate services for their employees’ needs. Long-time loyal customers often miss out on reduced risk premiums unless they take the initiative to renegotiate terms. Existing affiliation contracts are often renewed with unchanged conditions for years. https://lnkd.in/g3SaQDHb #employeebenefits #insurancebroker #switzerland

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🌟Introducing Koyo Capital Many of you have been asking about my next steps and plans. Over the past decade, as an active member of the Swiss Venture Ecosystem, I participated in over 100 venture transactions, supported many founders on their journey, co-founded Aare Ventures, by now one of the now largest Swiss business angel clubs, and took part in numerous venture initiatives across Switzerland. This experience allowed me to grow as venture capitalist and to become an entrepreneur myself. I am grateful to everyone who has trusted and continues to trust in me and my capabilities. 🚀 Today, I am thrilled to announce the launch of Koyo Capital, alongside my co-founder Max Meister. We gathered an incredible team of individuals around us including Anna H. Roth-Gardlo, Maximilian Boelck and more tba. Leveraging our extensive knowledge of the VC world and our experience of what works and what clearly doesn’t, we developed our unique investment thesis and strategy that we are executing at koyo. 🍁 Koyo represents the discovery of hidden gems. While Japan is internationally renowned for Sakura, its cherry blossom season, for locals, Koyo, which describes the colourfulness of autumn, is an equally significant event. The diversity of colours and the uniqueness of each leaf mirror the landscape of startups. Each company is unique, with distinct strengths, diverse teams, innovative business ideas & products, and specific areas where targeted support can profoundly influence their chances of success. At koyo, we are passionate about uncovering hidden gems and shaping them into successful ventures with an owner-operator approach. VC is not "one size fits all", it is a craft, requiring a tailored value creation playbook for each team. Therefore, we invest in only a few carefully selected companies with highest conviction, allowing us to dedicate the time necessary to best support the companies on their journey to relevance. With our investment thesis “Fortify and Explore”, we focus on ventures predominantely at the post-seed stage in the sectors: 💻 AI as Infrastructure 🛡️ Cyber Security and Resilience 🔗 Web3 🧬 AI in Life Sciences and Diagnostics 🤖 Robotics and Intelligent Systems, 🚀 Space Technologies ⚛️ Quantum Technologies We hit the ground running, with a first syndicated investment in RAAAM™ Memory Technologies, a potential outlier in the semiconductor space. I am looking forward to continuing collaborating with visionary entrepreneurs and investors and to support our ecosystem in growing to maturity over the next decades.

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The Swiss bond market is becoming more attractive again from a yield perspective compared to its EUR or USD peers. In his comment (link below), Thomas A. Fischli Rutz, MBA discusses the convincing arguments for Swiss investors to once again consider their domestic market. https://lnkd.in/dWrt87gK

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Hello, guys! 😃 I am excited to share some key insights from my participation and presentation at one of the most prestigious conferences on alternative investments: Private Equity Insights Zurich. 🌍✨ We presented alongside a highly experienced asset manager from a prominent single-family office. After in-depth discussions with various European investors and family offices, I have identified a common set of challenges they are facing: 1️⃣ Low-risk premiums in the public market: 📉 Attached is a detailed chart illustrating the yield spreads between BBB and A corporate bonds. 2️⃣ Desire to mitigate portfolio risk through investment in non-market correlated assets. 📊🔒 3️⃣ Aspiration to allocate capital to sectors experiencing shortages**, thereby capturing yield premiums. 📈📦 4️⃣ Large cash positions that are suboptimal due to the low returns in the money market. 💰➡️📉 Conclusion: Aurora’s investment opportunities adeptly address these challenges, providing superior solutions. I am enthusiastic about the promising deals on the horizon. 🚀💼 For those interested in delving deeper into Aurora’s activities, I invite you to visit our website: Aurora Advisory: https://lnkd.in/dKTD_via 🌐 #AlternativeInvestments #PrivateEquity #InvestmentStrategy #FamilyOffice #PortfolioManagement #AuroraAdvisory #FinanceConference #PEInsights

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In his latest BILANZ Wirtschaftsmagazin column, our Chairman, Max Meister, shares an important reflection on how excessively strict contractual clauses by investors can compromise the long-term success of the deals. While protecting their interests is important, an imbalance that disadvantages founders often leads to frustration, demotivation, and ultimately, reduced odds of success for the company – harming both founders and investors. Max emphasizes the importance of balanced contracts to foster #trust and #collaboration, ensuring that all parties can thrive.   👉 Read here: https://lnkd.in/dDpxBGdc What are your thoughts on finding the right balance in investment agreements? Let’s discuss below #EverstridePartners #Handelszeitung #Bilanz #mergersandacquisitions #ExitTransaction #InvestorContract 

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🌍 The Energy Transition: A Prime Opportunity for Investors 🌍 In our latest blog post, ETH Professor Tobias Schmidt discusses the urgent need for an energy transition to combat climate change. With 80% of CO2 emissions stemming from energy consumption, transitioning from fossil fuels to renewable energy is critical. Tobias emphasizes the vital role of finance in this shift, highlighting the need for substantial investment in new technologies. Discover how innovation in solar, wind, and battery technologies is making the energy transition an attractive investment opportunity. Read the full insights here: https://hubs.la/Q02GXwjq0 #EnergyTransition #ClimateChange #SustainableInvesting #RenewableEnergy #Innovation #VerveVentures

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📊 Exciting news! The latest fundraising data from Private Equity International shows a modest rebound in H1 2024. 🎉 I got the opportunity to provide Monument Group's perspective on the current market dynamics during a great chat with Alex Lynn yesterday. 📈💬 We discussed the trends we're seeing, the challenges we're facing, and the opportunities that lie ahead for the private equity industry. 🌐✨ Stay tuned for more insights as we navigate this evolving landscape together and see you at SuperReturn in Singapore. 🤝🚀 #privateequity #venturecapital #fundraising

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It's almost Family Office FRIDAY! 2024 Swiss real-estate market further moderates to 1990s baseline. quote "The UBS Swiss Real Estate Bubble Index continued its decline in the first quarter of 2024 and now stands at 0.95 index points. The risk of a real estate bubble has thus fallen from "elevated" to "moderate." This means the benchmark is significantly lower than during the real estate bubble in the early 1990s" end-quote. #geneva, #zurich, #switzerland, #newyork, #realestate, #assetmanagement, #inflation, #multifamily, #money, #investment, #cfa, #caia, #money, #gold, #fixedincome, #bonds, #forex, #bitcoin, #familyoffice, #privateequity

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Diversify your portfolio and access exclusive growth potential by investing in private companies. Watch our Investment Houseview Discussion to learn from Naji Nehme, CFA, CEO and CIO at Petiole Asset Management AG, how to minimize short-term volatility with private equity firms focused on multi-year strategies: https://tfoco.co/3V2r96Q #PrivateEquity #InvestmentStrategy

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🇨🇭 #Switzerland’s #Health-Care Vote Switzerland faces a tight vote on November 24th to reform health-care funding. Current #polls show a split: 1. 20 Minuten: 46% yes, 44% no. 2. SRG SSR: 54% yes, 37% no, but opposition is rising. What’s at Stake? The reform would equalize funding for #inpatient and #outpatient care. Currently, only #hospitalizations get support from #Swiss #cantons, but this change could encourage more patients to choose cost-effective outpatient treatments, potentially saving Switzerland’s health-care system up to 440 million Swiss francs annually. Other #Ballot Items: 1. Highway Extensions to ease traffic. 2. Rental Law Changes affecting tenants and landlords. 🗳 Don't forget to #vote!

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What challenges do investors face in the current geopolitical environment?   Today Prince Michael von Liechtenstein together with Rob Stewart and Karen Jones Citywealth will discuss ethical investments in a geopolitical environment from the perspective of ESG developments at Citywealth Forum in London.   See more details: https://lnkd.in/dD3jGGCK

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