Ynon Kreiz quits Balderton

The European venture firm has parted company with one of its eight partners just months after hiring entrpreneur Roberto Bonanzinga and agreeing a full-time role for Tim Bunting, a former Goldman banker.

Ynon Kreiz has resigned as partner at Balderton Capital, the venture capital firm behind Bebo, Betfair and Setanta Sports.

The firm confirmed the departure of Kreiz. A source said the departure was amicable and he expected Kreiz to re-surface some time next year.

In a statement, Ynon Kreiz said: “I am very proud of what we have achieved at Balderton. It is a great franchise and I hope the investments we have made will continue to bear fruit for all of us. I remain an enthusiastic supporter of the firm and its partners.”

Barry Maloney, partner at Balderton Capital, said: “We wish Ynon well and every success for the future. We would also like to thank him for his significant contribution to the development of the firm over the last three years.”

Kreiz’s departure takes the partner head count down to seven and marks a period of re-organisation at the firm, which was formerly the European arm of US venture firm Benchmark Capital.

Roberto Bonanzinga joined as a partner in October, after 15 years working with entrepreneurs in the US and in Europe as a founder, manager, non-executive director and adviser.

In September Tim Bunting, a former Goldman Sachs banker, joined the firm in a full-time role after working part-time with the firm.

As a consequence of resigning from Balderton Capital, Ynon Kreiz also resigns as a director of a number of the firm’s investee companies.