Balderton hires software entrepreneur

Balderton Capital is boosting its line-up again. The firm is back up to full strength after the departures this year of Ynon Kreis and George Coelho.

Bernard Liautaud, the founder of Business Objects, is joining Balderton Capital, a European venture capital firm, next month as a general partner.

Liautaud built Business Objects, a manufacturer of business intelligence software, into one of the top 15 software companies in the world.  In January 2008, Business Objects was acquired by the software giant SAP for $6.7 billion (€4.3 billion), making it the third largest ever software acquisition at the time.

Balderton Capital has renewed its bench of talent in recent months after saying goodbye to Ynon Kreis, who recently resurfaced at media group Endemol, and George Coelho, a venture veteran, who left to join Good Energies, one of Europe’s largest investors in renewable energy and energy efficiency businesses.

Balderton has since hired former Emap executive Dharmash Mistry to focus in opportunities in media, retail and consumer goods sectors.

Based in London, Balderton manages approximately $1.5 billion in committed venture capital. Since 2000, Balderton, formerly the European arm of US firm Benchmark Capital, has invested in over 80 companies across a wide variety of technology sectors and geographies, including Europe, the US and China. 

Notable investments include Bebo, a social networking site, which was recently sold to AOL for $850 million; Betfair, an online betting exchange; and MySQL, an open-source database business, recently sold to Sun for $1 billion.

Barry Maloney, general partner at Balderton Capital, said: “The last six months have been an important time for Balderton. We have made three excellent exits and have invested in several new companies which we believe will bring great returns to our investors.”