Switzerland-based VC firm redalpine has opened a new office in the UK while announcing a new $200 million fund. redalpine has backed some successful Fintechs in the past like Klarna and N26 among others.
Founded in Zurich in 2007, redalpine also has offices in San Francisco and Berlin. The VC seeks to “empower game changers,” in backing early-stage ventures.
The company currently reports over $1 billion in assets under management across seven funds. It holds more than 100 portfolio companies.
As for the new fund, redalpine capital VII (RAC VII), it is said to be the largest ever.
Beyond Fintech, redalpine looks to invest in firms pursuing AI, Healthtech, software, energy, and more.
Michael Sidler, founding Partner of redalpine, said they are at an inflection point in tech development across all industries. “Huge forces” such as AI are creating big 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 newest 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), an AI firm that seeks to improve legal workflows, and Expression Edits (UK), the gene-editing company.
Lino Teuteberg, co-founder of redalpine portfolio company Taxfix, said that redalpine stood out with their hands on approach, serving as a valuable partner.
redalpine noted that it has already backed over 10 UK-based companies, including 9fin, Uncommon, and Hypervision Surgical.