European summer has officially come to an end, and what a season it’s been! We closed our largest fund to date, $200M RAC VII, opened a new office in London, and connected with investors across Asia. And that was just us - our portfolio companies also hit major milestones, from funding rounds to acquisitions and major product launches. Catch up on all our updates below!
powering a new era of plant-based protein
Congratulations to Luya (RAC VI) for raising CHF 5M in Series A funding! We’re proud to invest in the round alongside Kickfund, Lisa Schmidheiny, and other angel investors.
Luya transforms okara, a nutrient-rich byproduct of tofu and soy milk production, into delicious and sustainable plant-based alternatives to meat and tofu. Luya’s products are now available in major Coop stores across Switzerland, with further expansion plans underway for the rest of Europe.
Peter, our Founding Partner, said: “With their IP-protected approach and revolutionary fermentation platform, Luya is setting new standards for healthy and sustainable products, contributing significantly to the circular economy. Their platform enables the creation of a wide range of products that stand out from other alternative proteins with exceptional taste and quality.”
We also welcomed our long-term friend and venture partner, Uwe Sommer, to Luya’s board. Uwe brings a wealth of expertise from his leadership experience at Lindt and Mars, and we’re confident that his strategic insight will help accelerate Luya’s growth.
Read more in Startup Ticker (DE).
portfolio news
the latest updates from our portfolio, in no particular order:
Araris (RAC IV) announced the acquisition of Innate Pharma’s ADC transglutaminase conjugation technology portfolio of patents, marking an important step forward in targeted cancer therapy. The acquisition will enhance Araris’s ability to deliver innovative treatment options, especially for diseases where current therapies fall short. Find out more about their ADC technology here.
N26 (RAC II) reached profitability in June and is on track to remain profitable for the remainder of the year. This marks a significant milestone after Germany’s financial regulator BaFin lifted N26's customer growth cap in June, allowing them to onboard an unlimited number of users. Read more in Handelsblatt (DE).
Genialis (RAC III) launched krasID, combining expert knowledge and AI to offer clear, actionable insights into tumor biology. With KRAS mutations driving over 25% of cancers, krasID addresses the limitations of current biomarkers in successfully identifying who will actually benefit from KRAS inhibitors. Read more here.
Voize (RAC VI) recently received a visit from Germany's Health Minister, Karl Lauterbach, to discuss innovations in nursing and to inform future policies. Voize's technology streamlines care documentation, helping medical professionals reclaim the 30% of their time spent on paperwork by automating care reports, vital sign tracking, and movement logs - all hands-free. See more here.
redalpine highlights
our expansion to the uk
Our new London office is officially up and running, headed up by our GP Sebastian, with Marc and Inna joining from the investment team. The move aligns perfectly with our investment strategy at the continuum of software and science, especially given the UK's leadership in recent developments in AI and life sciences. We already have over a dozen investments in UK companies, including 9fin, Hypervision Surgical, ExpressionEdits, and Uncommon, with a number of announcements soon to come. Going forward, we look forward to becoming even more embedded in the local startup ecosystem!
a trip to asia
Michael and Rafael recently headed to Asia to highlight investment opportunities in Europe - particularly in deep tech - and connect with investors and family offices across the region. After kicking off the trip in Singapore and Hong Kong, Michael headed to Bhutan to join an annual gathering organized by Happiness Capital exploring how happiness can reshape the future of investments.
Bhutan, the only country that measures Gross National Happiness, is leading a unique approach to assessing economic success - not just through GDP, but by prioritizing well-being and environmental stewardship. Now, this groundbreaking framework is being applied to the world of investment. It was an honor to join the discussion on how venture capital can contribute to fostering well-being for both people and the planet. We look forward to using a happiness-driven model to unlock more meaningful financial, social, and environmental returns.
redalpine in the news
The announcement of our new $200M early-stage fund and London expansion hit the headlines in late August. In case you missed it, here's a wrap up of some of the coverage:
Sebastian discussed the news in more detail in a podcast interview with Startup Insider. Listen in full here (DE).
where we're going
On 2 - 3 October, Mira and Oliver will attend the Investor Day and Startup Fair in Vilnius. Oliver will join a panel discussion on the best M&A strategies for driving growth
On 2 October, Philip K. will attend the AI Week in Zurich, including the Pre AI+X Summit CTO Dinner
On 8 October, Rafael will attend PE Insights in Munich
On 13 - 16 October, Oliver and Rafael will attend Expand North Star in Dubai
On 14 - 18 October, Oliver and Rafael will attend GITEX in Dubai
On 23 - 24 October, Marc will join a panel discussion on AI and medicine at the AE Autumn Summit on Open Problems for AI in London
On 5 - 8 November, Rafael will attend SuperInvestor in Monte Carlo