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This story was originally published on HackerNoon at: https://hackernoon.com/inside-the-swiss-deep-tech-report-2026-switzerland-out-invests-china-and-the-us-in-deep-tech.
Switzerland sends 63% of its venture capital to deep tech, the highest share worldwide. But foreign funds own 88% of the late-stage cap table.
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The Swiss Deep Tech Report 2026 ranks Switzerland first in the world for the share of venture capital going to deep tech, at 63%, ahead of China (56%) and the United States (54%). At $1,470 per capita, Switzerland invests more in deep tech per head than any country in Europe, ahead of Sweden ($1,328), and ranks top three worldwide. Annual funding has climbed from $543m in 2015 to a record $2.6B in 2025, the best year on record. AI and machine learning now account for one in four new Swiss deep tech companies, up from roughly one in nine. The blind spot: foreign investors supply 88% of capital at rounds of $100m and above, with US funds alone at 54%. Domestic capital falls from 36% of the smallest rounds to 12% of the largest.