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Swiss Alternative Investments Forum 2026:
On 4 February 2026, the Swiss Alternative Investments Forum convened leading voices from capital markets, energy, real estate, venture capital and other alternative asset classes at the Zunfthaus zur Zimmerleuten in Zurich. This year's edition of the forum made one thing clear: alternative investments are no longer peripheral. They have become central to economic resilience, geopolitical stability and long-term value creation.
In his opening remarks, Dr. Alexander Lindemann, President of the Swiss Capital Market Forum, explained why the four thematic pillars of the conference are particularly relevant today:
"Energy, real estate, venture capital and art are emblematic of structural shifts that investors can no longer assess in isolation. Successful investing today requires an understanding of the interplay between geopolitics, regulation, technology and capital."
Energy Infrastructure: When "boring companies" become strategic assets
The forum opened with a panel on energy infrastructure, moderated by Dr. Jakob Schaad, Partner at LINDEMANNLAW and Member of the Scientific Board of the Swiss Capital Market Forum. Following a datadriven introduction by René Baggenstos (Enerprice AG), the panel addressed gas and LNG markets, electricity pricing, storage capacity and the challenge of ensuring security of supply in Switzerland and Europe.
A recurring theme emerged throughout the discussion: so-called "boring" infrastructure companies are no longer boring at all. They have become system-relevant: politically, economically and from an investor's perspective.
Particular attention was paid to the revival of nuclear energy. Advances in safety, modular design and scalability, including smaller and potentially transportable reactor concepts, are fundamentally reshaping perceptions of the technology.
René Baggenstos noted: "Electricity and sustainable energy are the future, but dismantling gas infrastructure too quickly would be a strategic mistake. Gas-fired plants remain the most reliable backup for peak demand and can be repurposed for hydrogen and other climate-neutral gases."
André Pienaar, Founder, CEO and Head of Investor Relations at C5 Capital, emphasized:
"Nuclear Energy is critical for Switzerland's industry and for Europe's Sovereignty and exciting private investment opportunity."
Jens Zimmermann highlighted as his insight: "As an analyst and investor, it's clear to me that energy markets, particularly electricity markets, offer multi-year investment opportunities that shouldn't be missed."
Dr. Jakob Schaad placed the discussion into a broader context:
Energy supply and infrastructure now operate at the nexus of geopolitics, regulation, and political risk. When these risks are rigorously understood, analyzed, mitigated, and managed, they become a defining source of longterm investment value.
Nermina Terzić, Global Energy Diplomacy, highlighted the international dimension, stressing that long-term energy security cannot be achieved without diplomatic engagement and cross-border cooperation.
Real Estate Development: Monaco or Ballenberg, and why Switzerland needs both
The second panel focused on the future of the Swiss real estate market. Moderated by Dr. Alexander Lindemann, Andreas Campi (Halter AG) and Dan Amar (Foxstone.ch) discussed development-stage risks, land scarcity, regulation and new financing models, including digital and crowd-based approaches.
A defining image of the discussion was the metaphor "Monaco or Ballenberg":
Urban density, economic dynamism and global connectivity on the one hand; identity, tradition and space in rural areas on the other. The conclusion was clear: Switzerland needs both.
A purely "Ballenberg-style" approach would not be economically viable, while urban densification without quality would not be socially acceptable. As a result, the panel identified communication as a decisive success factor. Open dialogue with the Swiss population is essential to build acceptance, make trade-offs transparent and enable sustainable development.
Venture Capital: Stay the course or exit?
The Swiss & Global Venture Capital segment opened with the presentation of the Swiss Venture Capital Report 2026, delivered by Thomas Heimann, SECA Chair for the VC Chapter and COO of HBM Partners AG. Fresh off the press, the report highlighted a clear market recovery, particularly in early-stage investments and in sectors such as biotech, ICT and deep tech.
Heimann emphasized that successful exits, including company sales and IPOs, are acting as powerful catalysts for renewed market confidence. Europe, he noted, is becoming increasingly attractive as a venture capital location and is rapidly closing the gap with the United States. This positive momentum is also spilling over into Switzerland, where a new generation of funds, combining experienced managers and emerging talent, is entering the market.
According to the latest SECA survey published in conjunction with the Swiss Venture Capital Report 2026, a record number of more than 50 Swiss venture capital vehicles are currently raising funds. More than half of these funds have already reached their first closing: an encouraging signal for investors, who can now choose from an increasingly diverse range of investment opportunities.
The subsequent panel discussion on VC exits and M&A revolved around a central tension: staying invested versus "chickening out." While the transition from early-stage rounds to larger financing tickets remains challenging, exits have become more selective and more dependent on structure. Governance frameworks, exit mechanisms, and legal and tax considerations are increasingly decisive, especially when growth does not follow a linear path.
Dr. Alexander Lindemann summarized this perspective:
"In these critical phases, success is not determined by market momentum alone. Structure matters. Clear contracts, robust governance and sound tax planning are essential."
Art as an Asset Class: Structure, education and new access
The forum concluded with the panel "Investing in Art: Dos and Don'ts", offering a sober and analytical examination of the art market. Discussions addressed its high level of concentration, pronounced information asymmetries and the historically limited liquidity that continue to distinguish art from other asset classes.
Dr. Frédéric Nizard, CEO of Frederic Nizard Asset Management AG and former Managing Director at UBS AG, highlighted the structural uniqueness of the market:
"Despite an established legal framework, the art market has not yet been successfully fractionalized, securitized, or tokenized. This distinguishes art from other asset classes such as equities, bonds, private equity, private debt, commodities, and real estate."
While the retail primary market is already well established, he noted that the secondary market still lacks sufficient liquidity. According to Nizard, this gap is likely to be addressed by nimble, technology-driven financial intermediaries, unlocking significant growth and a sharp increase in transaction volumes once liquidity improves.
Complementing this structural perspective, Marco Antonini, Founder of ORA Art Advisory and former Head of UBS Art Partnerships, emphasized the human and cultural dimension of art investing:
"Art is a unique asset class. It is rewarding and beautiful to live with, signaling the taste, interests, values and ambition of its owner—whether a private individual, family or company. With the right guidance, owning and understanding artworks unlocks their full potential, not only as assets, but as vectors of a personal or corporate narrative."
Looking ahead, Yassir Benjelloun-Touimi, CEO of ARTEX AG, pointed to the transformative role of technology in broadening access to the art market. Fractional ownership platforms, he argued, could attract new investor groups, stimulate wider interest in culture and creativity, and even support museums in accessing collection-grade works for temporary exhibitions.
"Alternative investments represent a structural shift, and fine art is now investable through a regulated and safe framework with real-time tradability. ARTEX AG has built this access, and institutions and investors engaging early are positioning themselves at the forefront of a rapidly evolving asset class."
Legal, tax, and the human factor
Between the panels, Dr. Alexander Lindemann presented concise legal and tax insights, underlining that in an environment of geopolitical uncertainty and complex investments, legal and tax structuring is not an afterthought but a strategic enabler.
The day concluded with a networking reception in an open and personal atmosphere. In-depth conversations, interdisciplinary exchange and a high level of engagement characterized the evening. As one participant summed it up: "A truly versatile and substantial event. Congratulations: because that's far from a given."
The Swiss Alternative Investments Forum 2026 once again demonstrated its ambition to be more than a traditional investment conference: a platform where capital, geopolitics, technology, law and dialogue come together to actively shape the future of investing.
The Swiss Alternative Investments Forum is taking place annually – we are open for your suggestions and ideas.
Event program: www.capitalmarketforum.swiss Presentations:
Swiss Venture Capital Report 2026
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