Business

Swiss entrepreneur sets up family office; hires venture specialist

A tech entrepreneur has set up a Zug-based family office after selling a business he co-founded at the end of last year. The new family office has also hired a venture specialist. 

Francisco Fernandez, co-founder of Avaloq, a Swiss banking software group acquired by NEC for $2.05 billion at the end of last year, set up last month 4b Capital, a family office based in Zug. 

Overseeing 4b Capital as chairman is  Enrico Ardielli, a long-term associate of Fernandez at Avaloq. According to Swiss data sites, also hired by the family office is Corsin Steiner, a venture specialist. Steiner’s LinkedIn profile says he is currently working as the CFO for Pioneering Ventures, a Zurich-based venture group developing agri-tech groups, especially in India. 

Fernandez started his career at BZ Bank, a Swiss finance group owned by finance entrepreneur and billionaire Martin Ebner. The Swiss and Spanish citizen founded Avaloq with Ronald Straessler after a management buyout from Ebner’s BZ. 

The Swiss publication Bilanz estimated Fernandez’s wealth at CHF750 million ($846 million) last year.

 

 

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