A leading European venture capital firm is to open a base in London and has announced its seventh fund.
redalpine, which has existing bases in Zurich, Berlin and Silicon Valley, says its latest fund is its largest to date at $200 million.
The fund has already invested in nine companies, including UK-based Expression Edits, a gene-editing company that is streamlining and accelerating the development of life-saving therapies.
Founded in 2006, redalpine backs software and science companies. It was among the first backers of unicorns including Taxfix and N26, as well as 10 UK-based companies including 9fin, Uncommon and Hypervision Surgical.
Its total assets under management now stand at over $1 billion.
“We are at a pivotal inflection point in technological development, with transformative change happening across all industries,” said Michael Sidler, founding partner of redalpine.
“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.
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.”