European venture capital firm redalpine has announced the closing of its largest fund to date, redalpine capital VII (RAC VII), at $200 million. The firm, founded in Zurich in 2006, has also revealed plans to open a new office in London, expanding its European presence.
Despite a challenging fundraising environment, RAC VII closed oversubscribed, exceeding its initial target. The fund attracted significant support from existing investors, including family offices and institutional investors such as public pension funds, funds of funds, and banks. With this latest fund, redalpine now manages over $1 billion in assets across seven funds.
Michael Sidler, Founding Partner of redalpine, emphasized the fund’s focus on investing in startups working on transformative technologies across various industries, including AI, energy transition, health, and food security. The firm plans to back 15-20 early-stage companies from across Europe with RAC VII.
redalpine has already invested in nine companies through the new fund, including Proxima Fusion, a German clean energy startup, LegalFly, a Belgian AI company for legal workflows, and Expression Edits, a UK-based gene-editing firm.
The opening of redalpine’s London office marks a significant expansion for the company, which already operates in Zurich and Berlin, with a presence in Silicon Valley. Sebastian Becker, General Partner at redalpine and head of the London office, highlighted the UK’s advancements in deeptech and AI as aligning with the firm’s investment strategy.
redalpine’s investment team includes former entrepreneurs and scientists from various fields. The firm has invested in over 100 companies to date, including notable names such as N26, Klarna, and Taxfix. In addition to its early-stage funds, redalpine launched an evergreen, multi-stage Summit Fund in 2020, allowing it to support portfolio companies from startup to IPO.
