In this episode, Max Meister and Guy Giuffredi discuss a negative record: the number of Swiss startup liquidations in the first half of 2025. They then turn to the upcoming billion-franc exit of Ublox and the return of U.S. VCs to the European market.

In the listener question, they address whether voting-rights shares make sense for founders in Switzerland.

For the deep dive, guest Lucas Mittelmeier, VC at Heal Capital, joins to talk about the firm’s use of a voice bot as the first point of contact for startups applying for funding.

Finally, they wrap up with a quick recap of all transactions announced in the Swiss startup ecosystem since the last editorial cut-off.

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