Geneva-based investment house ACE & Company has announced the appointment of former Uber France, Austria, and Switzerland General Manager Steve Salom to the role of Partner. In addition to co-running the venture capital arm of the company, Salom is tasked with launching the firm’s newest €150 million fund.
With over $1.6 billion in total assets, 16 funds, $400 million invested in some 150 startups across the globe, and 11 exits on record, ACE & Company’s newest endeavor takes a turn inward, as the €150 million fund will be aimed at supporting early-growth stage (Seed and Series A) tech companies with “a notable Swiss influence”.
When asked, company representatives informed me, “the idea here is Switzerland as a theme rather than a geographic region” and will encompass investments in Swiss companies, Swiss founders, Switzerland-educated founders, and companies that have developed their tech in Switzerland and/or are looking to leverage Switzerland for their business.
Approximately one-third of the fund will target climate tech startups, with the remaining two-thirds focused on deeptech, fintech, and software.
When it comes to knowing the Swiss ecosystem, ACE & Company has tapped Steve Salom to lead the charge. But not sight unseen.
Between 204 and 2016, Salom built and launched Uber in Western Switzerland, and from 2016 until the end of 2020 Salom served as Uber’s GM for France, Switzerland, and Austria. Since the end of 2020, Steve as has been acting as an advisor to investors, startups, scale-ups, and Tech executives. One notable client in his roster is none other than ACE & Company.
"Steve brings deep operator know–how to not only identify the very best entrepreneurs and startups but also help and support them for the long run. He hired hundreds of people and knows what "great" looks like while also having a deep understanding of the complexity that comes with growth and building a business," says ACE & Company Founding Partner Charles Lorenceau.
On the new challenge, Salom commented, “With our new fund, ACE Swiss Tech Outliers, we're committed to supporting outstanding entrepreneurs in Switzerland and the Swiss Tech diaspora and backing the next generation of technology leaders."
Lead image: Anokhi De Silva