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Wellington Partners opens Silicon Valley office

Munich-based venture capital firm Wellington Partners, which has more than USD1.2bn in assets under management, has announced the opening of a US business development office, its first pre

Munich-based venture capital firm Wellington Partners, which has more than USD1.2bn in assets under management, has announced the opening of a US business development office, its first presence outside Europe, in Palo Alto, California.

Wellington, which also has offices in London and Zurich, says the new office will support its more than 40 portfolio companies in expanding into the US, helping them with relocation, marketing, business development and with partnerships with West Coast-based hi-tech firms.

‘Wellington Partners invests in European technology entrepreneurs with global ambitions,’ says general partner Frank Böhnke. ‘To fulfil global ambitions, you definitely have to be successful in Silicon Valley, the hub of the technology universe.

‘For many years, we have supported our entrepreneurs in expanding their network beyond Europe and into the US. It was a logical step for us to also expand our operations to establish a global footprint for the firm.’

The Palo Alto office is headed by Ram Srinivasan, former chief executive of Fireclick and a Silicon Valley entrepreneur who joined the Wellington team in 2006 as a venture partner, one of a team who advise and support the firm’s portfolio companies in strategic planning, key executive hires and business development activities.

Wellington’s nine technology venture partners also include Loic Le Meur, chief executive of Seesmic, Eric Ly, chief executive of Presdo and LinkedIn’s co-founder, and long-term Veritas senior manager Fred van den Bosch.

‘Wellington has an excellent track record of helping its portfolio companies develop and expand,’ Srinivasan says. ‘The establishment of our business development office will further support our companies in their expansion into the US, as well as providing US entrepreneurs with a local partner to help them expand into Europe.’

Wellington Partners invests in companies with the potential to become global leaders in the areas of information technology, media convergence, clean technology and life sciences. Since 1998, the firm has invested in more than 100 companies, including now publicly-traded firms Actelion, SAF and Xing and privately-owned companies such as Alando (acquired by eBay) and ImmobilienScout24 (acquired by Deutsche Telekom).

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