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redalpine's may update

Our new GP, the latest addition to the redalpine portfolio, follow-on funding rounds, and much more - there's plenty we have to share this month! Read on for all the updates from redalpine and our portfolio.

We're delighted to welcome Daniel Graf as our new General Partner!

Based in Silicon Valley, Daniel joining marks our first on-the-ground presence in the US, a critical step in our commitment to bridging the European and US tech ecosystems. With his deep operational expertise, he will play a pivotal role in supporting our portfolio companies' growth and cross-Atlantic expansion.

Daniel has an extraordinary 25-year career as a former founder and operator at some of the world's biggest tech companies. He was previously the VP of Product at Uber and X, Chief Product and Technology Officer at DispatchHealth, and at Google he was responsible for Google Maps and Google Local, which each amassed over 1bn monthly active users.

A longtime friend and collaborator of redalpine, Daniel has acted as an advisor, LP, Venture Partner, and operator at our portfolio companies Aktiia and Lakera. Discover more about Daniel's motivations and what lies ahead for redalpine here.

introducing ExpressionEdits

We are excited to announce our co-lead investment in Cambridge-based ExpressionEdits' $13M seed round! We led the round together with Octopus Ventures, and BlueYard Capital, Wilbe Capital, Acequia Capital, Amino Collective, and Hawktai contributed.

ExpressionEdits (ExEd) rethinks the genetic toolbox by mastering the design of existing and synthetic introns, which are pivotal regulators of gene expression. With the cell & gene therapy market already valued at $20 billion, it's poised to be a cornerstone sector in biopharma, especially with the rise of personalized precision medicine. ExEd focuses on customizing genetic instructions of transgenes to ensure expression of complex therapeutic and industrial proteins across various host cells.

On why we invested, Michael Sidler said: “Expression Edits unravels the significance and opportunities of introns, which were once relegated to the dark matter of the human genome. Their proprietary ‘Genetic Syntax Engine' unlocks the capacity to express highly complex molecules previously deemed unattainable while regulating them with precision. This opens up a groundbreaking new frontier in the gene and cell therapy space, and we firmly believe that Expression Edits will spearhead the growth of this rapidly expanding field."

Congratulations to co-founders Dr. Kärt Tomberg, Dr. Liliana Antunes, Prof. Allan Bradley, and the entire ExEd team! Read more about our investment here.

portfolio news

The latest updates from our portfolio, in no particular order:

  • Memo Therapeutics AG (RAC II) extended its Series C funding to CHF 45M, adding 20M from new investors Ysios Capital and Kurma Partners (we participated as well). The funds will advance Phase II of their anti-BK Virus antibody to help complete the largest study on BK virus infections in kidney transplants. Read more here

  • Germany's financial regulator BaFin has lifted N26's (RAC II) growth cap, allowing unlimited new customers. This is excellent news for the growth of the mobile bank, which introduced its highly anticipated stocks and ETFs trading options earlier this year. Read more on Sifted.

  • Umiami (RAC VI) was recognized as a Laureate of the French Tech Next40/120 for its innovation within FoodTech as a provider of plant-based meat alternatives. It places Umiami among the top 120 most promising French tech companies poised to become global leaders.

  • 9fin (RAC VI) was featured in Sifted's list of the fastest-growing fintechs in Europe. Read more about 9fin's impressive growth since we first invested in their Series A funding round in 2021 on Sifted.

  • Sanity Group (RAC IV) was featured in Arte's documentary about cannabis pilot projects in Switzerland, where they showcased their Grashaus Project dispensary in Baselland. The documentary can be watched in German here.

where have we been

  • 4-16 May: Marc was a mentor for AI deeptech companies at the Deep Tech Momentum conference in Berlin

  • 23 May: Gianmarco was an advisor and coach at the Bluelion Acceleration Program for early-stage B2B Tech Startups

  • 15 May: Philip was a judge at the BioIncubate in Zurich

  • 22 May: Inna, Daniel D., and Philip joined our portfolio companies Uncommon, Better Dairy, ExpressionEdits, and Hypervision Surgical to explore the UK grant landscape at the London Institute for Healthcare Engineering

  • 29 May: Oliver spoke at Asset Rush at Kaufleuten in Zurich. Michael, Antonius, and Rafael also attended, with our portfolio companies Luya, Umiami, and Dropz providing a delicious apéro

  • 30 May: Aga attended Nucleate Demo Day in Basel

where are we going?

  • 4-7 June: Nadiia, Bettina, and Oliver will be at SuperReturn International in Berlin

  • 5 June: We're co-hosting the VC Party 2024 as part of the SuperReturn conference in Berlin

  • 5-6 June: Daniel D. and Inna will attend Bits & Pretzels Healthtech in Munich, where Daniel will also be moderating a panel

  • 5-6 June: Rafael will be speaking on a panel at the Pension Symposium at Messe Zurich

  • 6-7 June: Peter, Michael, and Oliver will be attending the Swiss Economic Forum in Interlaken

  • 17-20 June: Daniel D. will be a panelist at HLTH Europe 2024 in Amsterdam


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