Insider Brief
- redalpine has closed its largest-ever fund, redalpine capital VII (RAC VII), at $200 million, and is expanding with a new office in London to enhance its presence across Europe.
- The fund will invest in early-stage companies across Europe, focusing on transformative technologies such as AI, energy, health, and deeptech, building on Redalpine’s strong track record of backing category leaders like N26 and Taxfix.
- redalpine now manages over $1 billion in assets and continues to support innovative startups with financial investment, operational expertise, and a global network.
PRESS RELEASE — Zurich/August 27, 2024/(GLOBE NEWSWIRE) — Leading European venture capital firm redalpine today announced the final close of its largest-ever fund, redalpine capital VII (RAC VII), at $200M. 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 been investing for nearly two decades and is one of Europe’s most experienced venture capital funds. redalpine is recognized for funding category leaders in software and science — from AI, software, biotech, and food to fintech, healthcare, and energy — and being the first backers of unicorns like Taxfix and N26. This strong track record, coupled with the fund’s consistent top quartile returns, ensured that RAC VII closed oversubscribed, exceeding its initial target despite a challenging fundraising environment.
Michael Sidler, Founding Partner of redalpine, said: “We are at a pivotal inflection 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.”
A significant number of existing investors doubled down on their commitment in RAC VII, with limited partners including renowned family offices and leading institutional investors (including public pension funds, Funds of Funds, and national and international banks). Today, redalpine has over $1bn in assets under management across its seven funds.
Operating out of offices in Zurich, Berlin, and soon London, and with a presence in Silicon Valley, RAC VII will back 15–20 early-stage companies from across Europe. The fund has already invested in nine companies, including Proxima Fusion (Germany), a Max Planck Institute for Plasma Physics spin-off focused on the future of clean energy production through fusion technology, LegalFly (Belgium), the AI copilot that is transforming legal workflows, and Expression Edits (UK), the gene-editing company that is streamlining and accelerating the development of life-saving therapies.
Lino Teuteberg, Co-Founder of redalpine portfolio company Taxfix, commented: “When we set out to help people all across Europe overcome their fear of complex tax and financial issues, redalpine stood out with their hands-on approach and deep belief in our vision. The founding partners and team served as valuable sparring partners around the topics of product development, growth, and hiring, and continue to double-down on their support by investing from Seed to Series D. We’re delighted to hear that RAC VII will enable more entrepreneurs to benefit from partnering with redalpine.”
The opening of redalpine’s new London office marks another significant step in the company’s growth and commitment to Europe’s local startup ecosystems. redalpine has already 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 deeptech 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 half of the team are scientists, including biologists, physicists, doctors, computer scientists, and material scientists. redalpine funds technological breakthroughs that offer tenfold improvements over existing solutions, providing a so-called ‘tech hedge’ and a key competitive advantage. 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 its innovative evergreen, multi-stage Summit Fund in 2020, the first of its kind in Europe. The Summit Fund enables 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 opening of the London office, redalpine is perfectly positioned to progress its vision of empowering game-changers, disrupting industries for good, and shaping a better world for all.
ENDS
Notes to the editor
Media images can be found here.
About redalpine
redalpine is the pan-European venture capital firm that empowers GameChangers. Founded in Zurich in 2006, with offices in Berlin, London, and a presence in San Francisco, redalpine brings together financial investment, operational expertise, and a vast international network to help ambitious entrepreneurs transform their vision into a reality.
redalpine has over $1bn in assets under management and has backed some of Europe’s most disruptive software and science companies, including N26, Taxfix, Mistral, 9fin, Carvolution, Klarna, and Infinite Roots. With a multi-stage investment approach, redalpine invests Europe-wide and counts over 100 companies in its portfolio.
Featured image: redalpine founding partners: Michael Sidler and Peter Niederhauser. Credit: redalpine
