Gilde hires former Kappa IT MD

Alexander Lewald has been made a partner and director of the Gilde IT Fund.

Gilde IT Fund, the pan-European venture capital firm which specialises in software and communications investments, has confirmed that Alexander Lewald is joining the firm as a director and partner.

Alexander Lewald joins Gilde IT from Kappa IT Ventures, the high growth information technology investor, where he was managing director. Previously Lewald was senior engagement manager at McKinsey & Co, where he worked with several technology companies in the areas of telecommunication and information technology.

The appointment comes in the same month Lars Lindell joined Gilde IT as partner after a spell at nCoTec Ventures in London. The two appointments by Gilde IT are part of the company's expansion process.

According to Toon den Heijer, executive director of Gilde IT Fund, Lewald’s appointment will bring experience of venture and senior operating expertise through his work in the German and international markets. 'We believe that Germany is an expanding market which offers a great deal of potential. We are currently looking at a number of deals, not only in Germany but also in the UK and Scandinavia.'

The departure of Lewald is the second significant departure this year for Kappa IT Ventures, the European co-operation partner of US-based venture capital group VMSI (formerly AT&T Ventures). Marc Breitfeld, the former chief financial officer and principal of Kappa IT Ventures, left to join AdAstra Venture Consult in January 2002.

Gilde IT Fund has more than 90 investments in the IT industry in Europe, the US and Israel. It has achieved more than 25 successful IPOs and trade sales.