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So far, The Redeemer is a character covered in a shadow of mystery.
During Minimum Carnage, Venom (Flash) and Scarlet Spider (Kaine) follow Carnage (Kasady) through the Prometheus Pit into the Microverse. The three characters are split up onto three different planets and the Redeemer is the only other sentient being that Scarlet Spider meets until he becomes reacquainted with Carnage.
The Enigma Force seem to be loyal subjects of the Redeemer, attempting to bring Venom to him although they know that the symbiote is dangerous and should probably leave their universe.
The Redeemer says that he has once been a king and a traitor. He is known as a Redeemer and prophet. And, he once was a warrior. But, now he wishes to be a healer. Instead of fighting the man who wants to destroy the Microverse (Radu), the Redeemer wants to "heal" him.
As The Redeemer is full of "fortune cookie wisdom and constant threat(s) of death" (said by Kaine), he seems to be able to predict the future or at least be more aware of the world than those around him.
He healed Kaine after a fight. The newest issue suggests that the Redeemer's healing healed more than just Kaine's physical body.