Zürcher Kantonalbank's Swiss Growth Fund II passes $251M
What's the deal? Zürcher Kantonalbank's asset management arm has secured more than US$188.3M (roughly $251 million) for its Swiss Growth Fund II, formally the Swisscanto (CH) Private Equity Switzerland Growth II L-QIF KmGK. The milestone came with the fund's third close on November 5, 2026.
Who's backing it? The growth equity fund now counts more than 80 qualified investors, double the roughly 40 that backed its predecessor. Zürcher Kantonalbank itself has committed US$22.9M.
What's the endgame? The fund invests in expansion-stage companies based mainly in Switzerland, across healthcare, industry, and information and data services. Early investments include semiconductor specialist Kandou AI and Piomic, a MedTech spin-off from ETH Zurich.
Why now? Investor demand remains strong, so the firm has extended subscriptions to the end of January 2027, pushing the final close to early February 2027. "The interest of qualified investors in the Swiss Growth Fund II remains high," said René Nicolodi, head of equities and chair of the private equity investment committee (translated from French).
By the numbers: Swiss Growth Fund II had already crossed US$175M at its April 2026 second close, topping the US$165.6M final total of Swiss Growth Fund I, which closed in March 2020. The fund is the third private equity programme from Zürcher Kantonalbank's asset management, which oversees more than US$458.3M across the three.
The signal: The milestone points to steady appetite for a focused, established Swiss growth vehicle rather than a broad rebound. Swiss startup investment fell 15.5% in the first half of 2026, even as Redalpine raised a record $250 million for its latest fund in November.
Read more: allnews.ch
Image credit: ZKB - Zürcher Kantonalbank
