Meet Our Investor Jürg Schwarzenbach, Founder and President of the Board at Marcaro AG

Please tell us more about yourself
I am Jürg Schwarzenbach, founder and president of the board of Marcaro AG. I am also the initiator and president of the Bernese investor network Aare Ventures and an investor on “Die Höhle der Löwen Schweiz”.

What is your background and previous experience?
I am an entrepreneur at heart. I founded my first company together with a good friend after finishing our studies in electrical engineering. We sold TVs, radios, and other Hi-Fi equipment. That was during a time when many companies still used typewriters. Soon, we realized that PCs would revolutionize our lives, and we began selling hardware and software solutions. This company, DELEC, grew from a small Hi-Fi store to an SME with over 220 people and a turnover of more than MCHF 100. We sold the company in 2005, which marked the beginning of my career as a business angel and investor.

What is your investment focus?
In the beginning, I invested solely in companies in familiar markets: software, information, and communications technology. Once my experience and network expanded, I also broadened the portfolio. Marcaro is now invested in companies ranging from software to medtech and e-commerce. Being part of “Die Höhle der Löwen Schweiz” has also had an impact in that regard. What remains is our regional focus — we always want to be involved in exciting companies coming out of Bern.

Could you tell us more about the investment portfolio you have built so far?
Currently, we have a portfolio of 35 companies — two thirds we consider startups and one third are SMEs.

Can you provide examples of successful investments you have made in the past?
I was lucky enough to live the ultimate dream of every investor: a team of two experienced ETH graduates and a sales professional developed an innovation the world hadn’t seen before. They reached profitability after only four years and then achieved an exit that secured their financial independence for life. Today, the company employs over 200 people in four locations worldwide. This investment was Xovis from Zollikofen (BE). They create solutions for counting people in public places like airports, shopping centers, and train stations to optimize passenger flow. They developed a unique video sensor that counts people from above. It’s truly a disruptive innovation that brought substantial, previously unavailable benefits to customers. They are now the absolute market leader.

Another example is Carvolution, the first serious car subscription provider in Switzerland. The company was founded in 2018, its growth has been rapid, and almost everyone in Switzerland knows their name. The main focus is on fully satisfied customers, and the feedback shows that people love Carvolution. It sounds easier than it is; the processes are demanding, and financing the vehicles is a major challenge. The company has reached break-even, and many opportunities await.

How do you typically add value to the startups you invest in, apart from capital infusion?
We tend to help wherever we can — for example, by leveraging our network, consulting on strategic decisions, or offering services such as organizing financing rounds or coaching in areas like communications and leadership. It usually depends on the needs and wishes of the portfolio company.

How many investments do you make per year?
Usually, we make around 3–5 new investments per year, and we also participate in further financing rounds of our portfolio companies.

What is the typical investment size you consider for startups?
Our tickets range from CHF 50k to CHF 300k for startups and up to CHF 1m for SMEs.

Can you describe your due diligence process? What factors do you consider before making an investment?
Our due diligence involves two stages. First, we look at so-called must criteria such as problem solving, uniqueness of the idea or innovation, expertise of the founding team, and market size. If a pitch fulfills these, we take a closer look and conduct an in-depth analysis involving expert feedback and many other factors.

How long does the investment decision-making process usually take?
We usually take around 10 business days to decide whether we will evaluate an investment in depth. Once we decide to conduct an in-depth analysis, this can take up to two months, depending on how quickly the necessary information and contacts are provided.

What level of involvement do you typically have with the companies you invest in? Do you take board seats or have observer rights?
I am a board member — and even board president — in several of our portfolio companies. We expect regular updates from our portfolio companies, but board or observer status is not a must.

What is your typical timeline for exiting investments? Are you focused on short-term exits or long-term growth opportunities?
We expect our portfolio companies to have a solid mid- to long-term plan, which may involve an exit, but it is not mandatory. We are also interested in companies looking to grow in the long run and establish themselves as solid players in the market.

How many successful exits have you had?
So far, we have had ten successful exits.

How important do you consider organizations like the Swiss Startup Association for the startup ecosystem in Switzerland?
Very important! It is vital that the startup ecosystem has a unified voice that actively represents its interests in politics, media, and society.

Is there anything else that you would like to tell our community?
I am handing over Marcaro to the next generation. I feel very privileged that my daughter and my son have started working at the company and will take over operations over the next few years.

Follow Jürg on LinkedIn!

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