Wellington names new venture partner

The German venture capital firm has appointed former ProSieben Media sales director Michael Wölfle to its investment management team.

European early-stage venture capital investor Wellington Partners has announced the appointment of Michael Wölfle as venture partner as the firm seeks to protect its information and communication technology and life science portfolio in the current market.

Wölfle is a former sales director at German satellite television company ProSieben Media and currently heads Cuneo, a German-based seed financing company that has to date made eight investments in media and related technology businesses. Wellington is hoping to benefit from his portfolio management experience and his knowledge of the German media industry to manage and expand its portfolio.

According to Wellington partner Frank Boehnke, the appointment of venture partners enables the firm to gain access to sector expertise while providing the partners with investment oportunities. 'The appointment of venture partners provide us with a win-win situation. In addition to the added operational expertise that venture partners bring, we also benefit from the management expertise that portfolio companies require in the current depressed market.'

Wellington has sought to a network of consultancy and supervisory senior managers and has already recruited former O.tel.o general manager Eberhard Plattfaut and Boris Anderer, one of the founders of Brokat. Michael Wölfle is already a member of the supervisory board of Questico, an operator of online and offline software-based brokerage services, a company funded by Wellington Partners.

Formed in 1991, Munich-based Wellington Partners currently manages a total fund volume of E265m, with E85m of this funding available for new investments. The firm is one of only a handful of German technology investors to maintain a steady level of investment through the downturn, completing two deals in the past month. Last month the firm backed a E9m financing round for WLAN, a Munich-based wireless network developer and a E6m round for Cobion, also based in Munich.