Sofinnova Partners appoints new partner

The French venture group has appointed former Wanadoo chairman Olivier Sichel to capitalise on his experience in fixed-line and internet-based telecommunications.

Olivier Sichel has become a partner at Paris-based venture capital company Sofinnova from France Telecom’s Wanadoo where he was chairman and chief executive.

Sichel: new partner

He joins partners Olivier Protard, Alain Rodermann and Jean-Bernard Schmitt

Sichel joined France Telecom in 1998 and became chairman of Wanadoo in 2002.  He restructured the internet and directory company’s activities in Spain, the Netherlands and the UK and developed the online Yellow Pages directory.

When Wanadoo merged with France Telecom in a mixed public offer in 2004, the company’s operating profit had quadrupled and its value increased to €13 billion ($16.5 billion).

Sofinnova Partners is one of the oldest venture firms active in Europe. It invests primarily in companies in information technologies and life sciences, in France and in other European countries.