Adveq, the Swiss private equity manager, will begin fundraising next year for its third European fund of funds to invest in venture capital, smaller buy-outs and selected larger buy-outs.

Bruno Raschle, founder and managing director of Adveq, said the firm would not decide on a fund size until December. He said: "The fund size will be determined by which funds are going to be in the market in the time we are investing over the next two to three years. We know 80% to 90% of the names."