B-business hires MD for Germany

Christoph Bellmer, a former General Electric executive, joins the firm’s Munich office.

B-business Partners, the European venture capitalist, has hired Christoph Bellmer as a managing director in its Munich office.

Prior to his appointment at b-Business Partners, Bellmer was a member of the board at GE CompuNet, a General Electric company, where he was primarily responsible for the group’s sales strategy.

Hans-Dieter Koch, CEO of B-business Partners, said it was this operation management experience and his handling of several large accounts, that clinched his appointment.

In Munich Bellmer will run the VC’s German operations alongside Katrin Horstmann and Andreas Beaucamp. His focus will be to develop the sales side of portfolio companies whose products fit into the IT strategy of large corporations.

b-business partners was founded as a joint venture in March 2000 by Investor AB, Sweden’s leading financial investor, and industrial conglomerate, ABB. It has offices in Amsterdam, London, Munich and Stockholm, with around E60m in a portfolio of ten business to business companies. The firm’s other shareholders include AstraZeneca, Ericsson, Saab Aerospace, and Sandvik.

Last week, Investor paid ABB E188m for 90 per cent of its stake in the B-business Partners, thus increasing its share of paid in capital to 75 per cent. Investor is now the dominant shareholder in the business and has around E550m committed to it.