Deal News - GreenGate Partners advises redalpine on seed financing of Proxima Fusion

12. April 2024 Marc René Spitz, LL.M.

The Munich-based start-up is the first spin-out from the Max-Planck-Institut für Plasmaphysik (IPP) and aims to build the first generation of fusion power plants using Quasi-Isodynamic (QI) stellarators.

Proxima Fusion was able to secure €20M ($21.7M) in seed funding in an oversubscribed round, joined by the German government backed DTCF | DeepTech & Climate Fonds, Bayern Kapital, the Max Planck Foundation, and numerous existing investors.

Redalpine is a leading European venture capital investor based in Switzerland and supports its more than 85 portfolio companies not only with financial investments, but also with internal operational and technical expertise and an extensive international network.

The team at GreenGate Partners has long advised Redalpine on investments and participations in companies in a wide range of sectors.

Advisors GreenGate Partners

René Spitz LL.M. (USC) (Lead / Corporate / Munich / Partner)
Dr. Leonie Singer, LLM (Sydney) (Associate/Corporate)
Alexander Tribess (IT/IP / Hamburg / Partner)
Dr. Alexander Raif (Employment / Berlin / Partner)
Tobias Perchermeier (IT/IP / Munich / Associate)