Redalpine, a Zurich-based venture capital firm, has today announced the final close of its largest-ever fund, Redalpine Capital VII (RAC VII), at over €179 million. Alongside this milestone, Redalpine is expanding its footprint with a new office in London, enhancing its commitment to unlocking innovation across Europe.
Founded in Zurich in 2006, Redalpine has established itself as one of Europe’s most experienced venture capital firms. The firm is recognized for funding category leaders across a wide range of sectors, including AI, biotech, fintech, and energy, and for being the first backer of unicorns like Taxfix and N26. Despite a challenging fundraising environment, RAC VII closed oversubscribed, a testament to the firm’s consistent top-quartile returns and strong track record.
Michael Sidler, Founding Partner of Redalpine said: “We are at a pivotal inflexion point in technological development, with transformative change happening across all industries. Huge forces such as AI, energy transition, health and food security, and more are creating significant investment opportunities. We are seeking startups that are working on incredible solutions and are proud to be empowering the next generation of game-changing companies. With RAC VII, our largest fund to date, we can’t wait to co-create the future together with visionary entrepreneurs, while continuing our legacy of delivering outstanding returns for our investors.”
The new fund will target 15-20 early-stage companies across Europe. RAC VII has already made investments in nine companies, including Proxima Fusion (Germany), a spin-off from the Max Planck Institute for Plasma Physics focusing on clean energy production through fusion technology; LegalFly (Belgium), an AI copilot transforming legal workflows; and Expression Edits (UK), a gene-editing company streamlining the development of life-saving therapies.
A substantial number of existing investors increased their commitments in RAC VII, with limited partners including renowned family offices and leading institutional investors such as public pension funds, Funds of Funds, and national and international banks. Today, Redalpine manages over $1 billion in assets across its seven funds.
The opening of the London office represents a strategic expansion for Redalpine, which already operates out of Zurich, Berlin, and has a presence in Silicon Valley. The firm has backed over 10 UK-based companies, including 9fin, Uncommon, and Hypervision Surgical. Sebastian Becker, General Partner at Redalpine and head of the London office, said, “After expanding to Berlin, establishing a presence in London is the next logical step in our growth journey. London and the UK have shown very impressive advancements in the past few years, particularly in deep tech and AI – areas that align perfectly with our investment strategy at the continuum of software and science. I look forward to building our on-the-ground team and being on hand to further support our local portfolio companies.”
Redalpine’s investment team comprises seasoned operators, former entrepreneurs, and scientists from diverse fields, including biology, physics, medicine, computer science, and material science. The firm focuses on funding technological breakthroughs that offer significant improvements over existing solutions, providing a competitive advantage in the market. To date, Redalpine has invested in over 100 companies, including N26, Klarna, Taxfix, Mistral AI, Aktiia, Lakera, and Infinite Roots.
In addition to its six early-stage funds, Redalpine launched the innovative Summit Fund in 2020, an evergreen, multi-stage fund that is the first of its kind in Europe. The Summit Fund allows Redalpine to invest in European tech champions and support its top-performing portfolio companies through the later stages, from startup to IPO, reducing reliance on US funding.
With the successful closing of RAC VII and the expansion into London, Redalpine is well-positioned to advance its mission of empowering GameChangers, disrupting industries for good, and shaping a better world for all.
Read the orginal article: https://www.eu-startups.com/2024/08/zurich-based-venture-capital-firm-redalpine-closes-a-new-record-fund-of-over-e179-million/
