Alta Berkeley, the European venture capital firm with offices and London and Geneva, has named Peter Magowan as a partner to focus on investments in the communications and information technology.
Magowan joins the firm from microprocessor manufacturer ARM Holdings, where he was board member and vice president of business development from 1992, shortly after the company’s launch, to the present day.
The firm, which invests in early-stage businesses in technology and life sciences, is hoping to capitalise on the current downturn in early stage investments to early-stage businesses. “In spite of the current technology market malaise, history has shown that times of market recession coincide with periods of technical innovation,” said Magowan.
The firm has continued to invest through the technology downturn, making investments both in Europe and the US. Recent investments, currently investing its sixth fund, include the participation in a $24m financing round for Dune Networks, a Californian developer of communications solutions. The firm’s most recent European transaction came as part of a E10m round for French semiconductor firm Inside Contactless, completed in June.