Avaloq's co-founder has a lot more time on his hands – as well as another $650 million from recently selling the remainder of his share in the banking software firm. finews.asia on where the money is going.

Francisco Fernandez is one of Switzerland's most successful entrepreneurs of the last decade: he and co-founder Ronald Straessler took considerable risk in a management buyout from Martin Ebner's BZ Bank more than thirty years ago. In December, the banking software firm the duo built was sold to NEC for $2.3 billion.

The Spanish-Swiss engineer told finews.com in December that the windfall is on his mind: «What bothers me right now is how to use this money sensibly, converting a good portion into further entrepreneurial activity, because this is who I am.» The second element is putting some aside to ensure financial security for his family.

Skeleton Staff

After handing over the chair of Avaloq to NEC executive Masakazu Yamashina, Fernandez is now free to structure his wealth and new business ventures. He has set up 4b Capital in Zug as his family office with a skeleton staff thus far of two long-time associates, Enrico Ardielli and Elisabeth Truoel, a person familiar with the matter told finews.com.

Fernandez has also made several sizable start-up investments including in Basel-based Myartbank, which wants to disrupt traditional auction houses like Christie's or Sotheby's with a blockchain-based platform for art collectors and dealers. A passionate jazz pianist, Fernandez has also invested in Utopia Music, a Zug-based start-up that uses big data to track music consumption and ensure revenue.

Formula 1 Vs Car-Share

Fernandez already launched several projects including a start-up investment venture, an Indian agri-food project, and a Formula 1 gaming simulator while still running or later presiding Avaloq. In February, he added to his automotive stable as lead investor on a 15 million Swiss franc ($16 million) investment in Carvolution, a Bern-based car-sharing start-up.

He is also invested in a major real estate development around the company's headquarters on Zurich’s outskirts. He has also partnered with Norbert Ketterer, a well-known German real estate investor who is a sizable shareholder in Implenia. Fernandez and Ketterer joined up on Nokera, a property firm based in Zug.