Milbank LLP advised LEA Venturepartner GmbH & Co. KG ("LEA") on a $500M Series B Financing Round of Aleph Alpha GmbH ("Aleph Alpha"), one of the leading companies in the field of explainable and trustworthy AI. Aleph Alpha raised more than $500 million from a consortium of seven new investors as well as existing investors from previous rounds. The financing round is led by companies of the Schwarz Group, a leading retail group with 575,000 employees in 32 countries worldwide.
As an entrepreneurial equity partner, LEA Partners supports founders and management teams in various development phases of their growth and the achievement of a leading market position. Based in Karlsruhe, one of the largest technology clusters in Europe, LEA Partners has managed investments in numerous technology companies since 2002.
Aleph Alpha is a German AI company founded in 2019 with the mission to research and develop AI-enabling technology for a new era of powerful AI. The team of international scientists, engineers, and innovators researches, develops, and deploys transformative AI like large language and multimodal models and runs the fastest European commercial AI cluster. Its generative AI solutions are the prime choice for enterprises and governmental institutions seeking to retain independence, secure their data, and build trustworthy solutions.
The Milbank team that advised LEA on the corporate aspects of the transaction was led by partner Michael Bernhardt and included special counsel Sebastian Dexheimer and associates Johannes Wohlmuth and Steffen Post (all Corporate/M&A).
