Balderton Capital
20 Aug 2007
Overview
High points: Set up seven years ago as the first European arm of US
tier-one firm Benchmark Capital, the operation has spun off and was
renamed Balderton. The firm raised a $550m Europe III fund in
November and its main investments in the European technology sector
include Finland’s Habbo Hotel, a teen social networking site;
Sweden’s MySQL, an open-source database business; and Ireland-based
Setanta Sports, an international sports pay-TV broadcaster, writes
James Mawson.
AuM: $1.5bn
Current fund: $550m (€457.6m) Nov 2006
Last fund: Benchmark’s Europe II fund at $375m (2004)
Key people: The firm’s general partners are Johan Brenner, George Coelho, Mark Evans, Ynon Kreiz, Barry Maloney and Jerome Misso, with Klaus Hommels among its venture partners.
What the firm said: Our strategy is to be the first investor in technology-driven companies that seek to create new markets with significant growth potential. We focus on early-stage investing and take a labour-intensive, service-oriented approach in markets where we have direct experience. These include enterprise software and services, communications and security, semiconductors, mobile computing, consumer services and financial services. Our investments range from as little as $100,000 to $10m or $15m. Typically, we invest $3m to $5m initially and expect to invest $5m to $15m over the life of a company.
What the critics said: Impressive record from its 60 investments, backed up by sizeable exits this year. However, although it will remain close to its former parent Benchmark, spinning out is never easy. But with two thirds of its dealflow coming from its portfolio company network and a strong team, it is well positioned.
Current fund: $550m (€457.6m) Nov 2006
Last fund: Benchmark’s Europe II fund at $375m (2004)
Key people: The firm’s general partners are Johan Brenner, George Coelho, Mark Evans, Ynon Kreiz, Barry Maloney and Jerome Misso, with Klaus Hommels among its venture partners.
What the firm said: Our strategy is to be the first investor in technology-driven companies that seek to create new markets with significant growth potential. We focus on early-stage investing and take a labour-intensive, service-oriented approach in markets where we have direct experience. These include enterprise software and services, communications and security, semiconductors, mobile computing, consumer services and financial services. Our investments range from as little as $100,000 to $10m or $15m. Typically, we invest $3m to $5m initially and expect to invest $5m to $15m over the life of a company.
What the critics said: Impressive record from its 60 investments, backed up by sizeable exits this year. However, although it will remain close to its former parent Benchmark, spinning out is never easy. But with two thirds of its dealflow coming from its portfolio company network and a strong team, it is well positioned.