Ex-Uber Exec joins ACE & Company to launch fund focused on Swiss Technology

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Stefan Kyora

17.03.2023
Steve Salom

ACE & Company has become one of the most active investors in Switzerland. The venture capital firm plans to launch a new €150 million fund to advance the Swiss Tech ecosystem and diaspora across the globe. Steve Salom, the former General Manager of Uber for France, Switzerland, and Austria, is joining ACE & Company as a Partner to co-run its Venture Capital arm and launch the new fund.

Steve Salom has a wealth of experience in different roles. The EPFL and INSEAD alumnus worked as an investment banker and a business developer for a global web platform before launching and building Uber in Western Switzerland from 2014 onwards. In 2016, he became General Manager for France, Switzerland, and Austria until 2020. During his tenure, he built, scaled, and led a 200-people team – what became one of Uber’s largest and best-performing businesses globally.

Since then, Steve has been an advisor to investors, startups, scale-ups, and Tech executives. He is a board member at several Swiss startups, including Alpian, Gmelius, and Batgroup. In his new role as Partner at ACE & Company, he will co-run its Venture Capital arm and launch its latest €150 million fund.

ACE Swiss Tech Outliers will invest in startups with a deep link to Switzerland. These include Swiss companies, startups with Swiss founders, or alumi of Swiss universities. The fund will focus on sectors such as cleantech, fintech, deeptech in general, as well as B2B SaaS solutions. Series A rounds will be preferred, and the team must be outstanding. While the details are being finalised,  ACE & Company aims to do a first closing by the end of this year.

“It is the right moment to launch a fund focused on Swiss technology”, explains Steve Salom to Startupticker. “Today, the Swiss startup ecosystem has the critical mass of success stories and talent to really lift off. I am thrilled to join ACE to help drive growth in the vibrant tech ecosystem.”

“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 associated with growth and building a business,” says Charles Lorenceau, Founding Partner.

ACE & Company is a leading global private equity and venture capital firm with over $1.6 billion in total assets. Since its inception, ACE Ventures has invested $400 million in more than 150 startups across various sectors and geographies. With offices in Geneva, London, New York, and Cairo, ACE & Company has a global network of partners and advisers, providing unparalleled support to portfolio companies. News about Investments of ACE & Company into Swiss startups can be found in the ACE & Company profile in our investor directory

 

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