The Swiss unit of Mikro Kapital Management has opened a new office in Zurich, the company said in a statement on Wednesday. Mikro Kapital Management, which invests in small- and medium-sized companies already has a branch in Lugano and it also has staff working from Geneva. In total, the firm has ten employees in Switzerland, who report to Luca Pellegrini.

The Luxembourg-based company is active in fifteen countries and manages 559 million euros ($635 million). Pellegrini previously worked for GAM. He said it was a big challenge for the company to establish the business in Switzerland, not least as there was a lot of competition active in the industry already.