Pictet Alternative Advisors (PAA), the Pictet Group's alternative investment business line, has launched its first thematic private equity fund which focuses on technology investments.
The Pictet Thematic Private Equity - Technology fund will invest in 20 to 25 best in class funds globally and target up to 20 direct or co-investments in private companies over an investment period of three to four years.
PAA said the fund will take advantage of the ongoing "irreversible trends" in the digital transformation of the global economy and its impact on society, global and local economies.
Pierre Stadler, head of thematic private equity, said technology remained a fertile sector.
"We are still in the early stage of the global digital transformation, and hence there continues to be many attractive investment opportunities," he 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.
"Unsurprisingly, the private equity universe of tech focused fund managers has been increasing in size and number in the past decade. We believe technology as a theme is attractive from an investment perspective, as most software companies are still privately held."
He said that once the technology fund is established the firm will consider moving into healthcare.
PAA has 11 multi strategy funds and manages numerous segregated accounts with $17bn of assets under management.