Crescendo names new London GP

The US venture capital firm has appointed Ian Jenks as a general partner at its European headquarters in London.

US venture capital firm Crescendo Ventures has expanded its European team of general partners with the appointment of Ian Jenks at the firm’s London offices.

Jenks has worked with Crescendo as a venture partner since 1997 and has been involved in various technology industries and emerging growth companies for most of his career. He has held general management roles at Ingersol Engineers and later at Uniphase, where he served was president of the company’s laser and fibre optics group. During his time at Uniphase, he was responsible for the acquisitions of both IBM’s laser group and Philips’ Opto-Electronics division.

 

Jenks has also been involved in a number of emerging growth companies including Optomech, which he founded in 1987. Since 1997 Jenks has served on the Boards of numerous venture-backed companies including Altitun (Sweden), Santel (US), CoreOptics (Germany), Crystal Photonics (US), Novalux (US).

 

Crescendo, which specialises in communications and infrastrucutre investments and has more than $1bn under management, has offices in Palo Alto, Minneapolis and London.

 

Crescendo was among a number of firms that pushed for The University of Texas Investment Management Co (UTIMCO) to end public disclosure of the performance of its private equity portfolio holdings. At the time of the initial publication of these figures by UTIMCO in October 2002, Crescendo Ventures IV, raised in 2000, had an IRR of negative 45.5 per cent, although the fund was still in its early days of the investment cycle.

 

Crescendo was an early investor in Cisco Systems, the US software group, and achieved a 1,100 per cent return on its first $13m investment in the US software group. However the firm has had to deal with the decline in the global technology markets and recently announced plans to cutback its team of investment professionals as well as reducing its management fee.