MENLO PARK, Calif., and LONDON, June 7 /PRNewswire/ -- The partners of Benchmark Capital and the partners of Benchmark Capital Europe are pleased to announce the creation of a separate European business, newly renamed as Balderton Capital. Balderton Capital will have approximately USD 1.5 billion under management, making it one of the largest venture firms in Europe. Balderton has invested in over 70 companies across Europe, Russia, China and the US in the software, hardware, consumer Internet and clean-tech sectors.
MENLO PARK, Calif., and LONDON, June 7 /PRNewswire/ — The partners of Benchmark Capital and the partners of Benchmark Capital Europe are pleased to announce the creation of a separate European business, newly renamed as Balderton Capital. Balderton Capital will have approximately USD 1.5 billion under management, making it one of the largest venture firms in Europe. Balderton has invested in over 70 companies across Europe, Russia, China and the US in the software, hardware, consumer Internet and clean-tech sectors.
"Seven years ago, we were the first Silicon Valley firm to set up a group of investors in Europe. Today's announcement is the natural next step, given that team's emergence as a leader in venture investing in Europe," said Bruce Dunlevie, general partner of Benchmark Capital US. "It places all of us on a stronger, independent foundation for the long term."
"We have made excellent investments in companies including Bebo, Betfair, MySQL, Alphyra and Setanta, and more are on the way," said Barry Maloney, general partner of Balderton. "Independence, combined with a continued strong network of co-investment and affiliation with Benchmark, is the right way to move forward for our investors and our entrepreneurs. More doors and options will be open for each team, even as our relationships with each other remain strong."
This change — which will unfold over the coming months — will not alter existing fund or investor structures: it demonstrates the independence of Balderton and its maturity as a business. Benchmark's US, European, and Israeli portfolios have always been managed independently but have also been — and will remain — closely networked and substantially cross-invested. There will be no change in the Israeli team's name or organization, though the long-term goal is for it, too, to become an independent brand.
"European entrepreneurship is thriving, and we are doing this at the forefront of the industry. Balderton will continue to bring an aggressive, team-oriented approach to all our work, and our entrepreneurs will still continue to benefit from the same internationally oriented and networked group of investors," said Mr. Maloney.
Balderton is one of Europe's largest venture capital firms, committed to finding and helping talented entrepreneurs build great companies. Based in London, it manages approximately USD 1.5 billion in committed venture capital. Since 2000, Balderton has invested in over 70 companies across a wide variety of technology sectors and geographies, including UK, US, China, Russia and Scandinavia.
Notable investments include Habbo Hotel (the teen social networking site), Alphyra (Europe's largest payment processing network), MySQL (the open-source database business), Betfair (the largest online betting exchange), Setanta Sports (Europe's leading sports pay-tv broadcaster) and Bebo (the leading social networking site).
Balderton takes a team-oriented approach to venture investing. The partners combine Silicon Valley operating and company-building experience with a keen understanding of what it takes to build successful businesses in the European technology market.
About Benchmark Capital
Benchmark Capital, a leading international venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark's general partners take a team- oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes high-profile start-ups like Infinera, MySQL, OpenTable, Second Life, Tellme, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat. The firm manages more than USD 2.4 billion in committed venture capital. For more information on Benchmark Capital, visit its website at http://www.benchmark.com.
CONTACTS: Stephanie Gnibus For Benchmark Capital 408.776.9727 firstname.lastname@example.org Victoria Palmer-Moore For Balderton Capital 44 207 324 0493 or 44 77255 65545 email@example.com
SOURCE Benchmark Capital