Over three to four years, the Pictet Thematic Private Equity Technology I Fund will make 20 direct and co-investments into private companies through 20 to 25 best-in-class global funds.

Leveraging Pictet Asset Management, which manages $17 billion across 11 multi-strategy funds, the group said the fund will take advantage of digital transformation trends accelerated by the recent pandemic.

“Technology remains a fertile sector. We are still in the early stage of the global digital transformation, hence there continues to be many attractive investment opportunities," Pierre Stadler, head of thematic private equity said.

“As digital technologies become a bigger part of our lives, a new cohort of disruptive companies will emerge. Some of these firms will become household names. Others will have a lower public profile but still provide strong investment returns," Stadler added.

The fund will be distributed in Switzerland by Pictet Asset Management SA and Banque Pictet SA and in the rest of the world by Pictet Asset Management. In Europe, Banque Pictet Europe SA will be distributing the fund to its professional investors base.