Forestay’s Sinister Plan to Dominate European Venture Capital
In a shocking move, Forestay, a relatively unknown venture capital firm based in Geneva, Switzerland, has just closed its second fund, Forestay Capital II, with a whopping $220 million. But what’s behind this sudden surge in funding? Is it just a coincidence that Forestay’s sweet spot is leading growth rounds of $10M-$15M, right at the inflection point of a company’s growth trajectory?
A Fund Founded by the Bertarelli Family, the Same Ones Who Built Serono into a Global Biotech Giant
Forestay was founded as a fund of B-FLEXION, the private investment vehicle created by the Bertarelli family, who are best known for building Serono into the third-largest biotech business globally. But what’s the real motive behind this fund? Is it just a coincidence that Forestay’s CEO, Frederic Wohlwend, was the former Global Chief Digital Officer of Merck KGaA and Serono?
A Focus on Enterprise AI and SaaS, but at What Cost?
Forestay claims to be focused on enterprise AI and SaaS, but what does that really mean? Is it just a euphemism for "we’re going to dominate the European venture capital market and crush any competition"? Forestay’s CEO, Frederic Wohlwend, claims that the fund will be "extremely focused" in its investment strategy, but what does that really mean? Is it just a way of saying that Forestay will be ruthless in its pursuit of profit?
A Fund Backed by the Firmenich Family, the Perfume Empire
Forestay’s new fund is also backed by Anaïs Ventures, the investment vehicle for certain members of the Firmenich family, who created a perfume empire. But what’s the connection between perfume and venture capital? Is it just a coincidence that Forestay’s CEO, Frederic Wohlwend, has a background in the biotech industry?
The European SaaS Market is Fragmented, but Forestay is Poised to Take Over
The European SaaS market is fragmented, with many regional players vying for dominance. But Forestay’s emergence can only be a bad thing, adding to the already saturated market and making it harder for startups to raise funding. Is Forestay’s plan to buy out all the competition and dominate the market?