Private Equity Holding AG focuses on fund of funds, secondary indirect investments, and selective direct co-investments. Its fund of funds investments target venture, buyout, special situation, secondary, and balanced funds, but it avoids early stage venture and mega-buyout funds. Venture fund investments are primarily in technology, with a focus on Internet, telecommunications, information technology, life sciences, and other high-tech sectors such as semiconductors and electronics. Direct investments are preferably made alongside partner funds or as pre-IPO financings in the form of convertible loans, and the fund also considers PIPES. It prefers private equity funds and companies active in European Developed Markets, particularly Switzerland, Germany, France, and the United Kingdom, as well as Central and Eastern Europe, Israel, and the United States. It makes expansion or developmental investments in companies with sales in excess of $1 million, mainly through offshore subsidiaries, and seeks to take a majority stake.