Joerg Ueberla has stepped down as general partner of German venture capital firm Wellington Partners.
“When I joined Wellington Partners in February 1999, it was one of about two hundred small venture capital firms active in the German market,” Ueberla said in an email sent to contacts. He added that after 10 very rewarding years, “it is time to move on”.
Asked to disclose his future plans, Joerg declined to comment.
Ueberla resigned last October but took up a new post as a venture partner in January in order to help handover the management of portfolio companies such as expert information portal Questico and media company1-2-3.tv.
The management of Ueberla’s portfolio companies has been split between GPs Rolf Christof Dienst, Frank Böhnke and Eric Archambeau.
Separately, the firm has hired former 3i sector partner Daniel Waterhouse as its first London-based executive.
Wellington Partners declined to comment.