Venture capital firm Founderful, previously called Wingman Ventures, has raised $85 million for a new fund to back Swiss tech start-ups.

The company said it aims to reach a final close at $120 million in the next few months.

In the five years since it launched, it has backed a range of start-ups including bimolecular analysis company Isospec Analytics, lithium-ion battery producer Eightinks, and robotic gripper developer Faive Robotics.

The fund is backed by a range of institutions and founders from global unicorns including learning app Duolingo and Delivery Hero.

Founderful said if focuses on backing local, pre-seed start-ups in their first round of funding. It added that Switzerland is an important ecosystem for start-ups with more billion-dollar tech startups per capita than anywhere else in Europe.

“We’re beyond grateful that we get to continue our work with the most ambitious founder teams of this exciting ecosystem,” said Alex Stöckl, founding partner at Founderful. “Switzerland is one of the world’s fastest-growing venture capital markets.”

Stöckl added that with the global shift towards more complex technologies, Switzerland would become “one of the world’s most important tech hubs.

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