VC Education Program For Pension Funds
Switzerland has long been recognized as a global leader in innovation, with a strong ecosystem of research-driven startups, world-class universities, and active government support for technology and entrepreneurship.
As private markets continue to expand, venture capital (VC) has gained attention as a potential asset class for institutional investors, including pension funds and family offices. While VC offers opportunities for exposure to high-growth companies, it also presents challenges such as liquidity constraints, long investment horizons, and high return dispersion.
PROGRAM Details
This workshop aims to provide participants with a comprehensive understanding of VC as an investment option, discussing its role within a diversified portfolio, the specific risks involved, and the evolving landscape of private market investments. Through an exploration of Switzerland’s innovation ecosystem and real-world investment cases, participants will gain the insights needed to assess whether and how VC might fit within their broader investment strategy.
| Date | Zurich: 18.06., 21.10., and 19.11.2026 Lausanne: 24.09.2026 |
| Time | 13:30-17:00 |
| Location | Zurich: Glockenhof Zürich Lausanne: TBD |
| Cost | CHF 280 |
| Credit Points | 5 (Certified by Stiftung Eigenverantwortung) |
| Target Audience | Pension Fund Executives (please note that we are not able to accomodate other types of managers at this time) |
| Point of Contact | hello@deeptechnation.ch |
| Partners | vps.epas, Credit Points |
| Course language | In Zurich: German and English; in Lausanne: French |
Meet the Instructor
Laurent Frésard
Laurent Frésard is Professor of Finance at the Università della Svizzera italiana. He holds the Senior Chair at the Swiss Finance Institute (SFI) and is a Board Member at the pension fund Fondazione Ticinese per il secondo pilastro (FtP).
Previously, Professor Frésard was a member of the faculties at HEC Paris and the University of Maryland. His papers have been published in leading academic journals and he has received several grants and awards. In 2024 he became an editor at the Review of Finance.
Course Content
1. Introduction to Venture Capital
- What is venture capital and its importance in funding new technologies (examples)?
- Stages of VC investing (Seed, Early, Growth, Late-stage)
- Key players: Venture funds, startups, limited partners (LPs)
- Evolution in Switzerland in the last 20 years
2. Venture Capital as an Asset Class
- Investment philosophy: Comparison with private equity (LBOs), infrastructure, and real assets (also stocks and bonds)
- The recent growth of private markets and its implications for Swiss pension funds
3. The VC Investment Process
- Fund structure and lifecycle (fundraising, investing, exits)
- Fees (management and performance)
- Exit Strategies and Returns (IPOs, M&As, secondary markets, unrealized returns)
4. Case Study: Successful Startup Experience
- The financing story of a successful startup
5. Evaluating VC Performance
- Key metrics: IRR, MOIC, DPI, RVPI, TVPI, PME
- Pitfalls and limitations
- Comparing VC (risk-adjusted) returns to traditional asset classes
- Evaluating fund managers (due diligence and performance persistence)
6. Risk Factors and Regulatory Considerations
- Liquidity constraints and long-term capital commitments
- Regulatory implications for Swiss pension funds investing in VC
7. Portfolio Allocation and Diversification
- How pension funds can access VC (direct vs. fund investments)
- How much should pension funds allocate to VC?
- Managing risk through portfolio construction: Investment programs and fund-of-funds
- The role of VC in a broader private markets strategy
Register now
If the session registration form is not displayed below, click on this link to register.
The CHF 280 registration fee is charged at cost to cover event expenses. All proceeds directly support the Deep Tech Nation Switzerland Foundation’s non-profit mission to foster the Swiss innovation ecosystem. This is purely an educational program.
DISCOVER WHY SWISS INNOVATION IS World Leading
- Switzerland leads in Deep Tech funding per capita and share of capital going to Deep Tech.
- Deep Tech funding in Switzerland has grown 6x in the last decade.
- Switzerland has the highest density of AI talent in Europe.
- Switzerland ranks 1st in Europe by Deep Tech funding per capita, and third globally