Wellington hires ex-Benchmark pro

46-year-old former Benchmark Capital executive Eric Archambeau has joined the Munich-based VC as a general partner.

Veteran European venture capitalist Eric Archambeau has joined early stage investment firm Wellington Partners as a general partner.
 
A native of France, Archambeau's work will focus on internet services, enterprise software and semiconductor opportunities. He is also expected to assist with portfolio companies looking to expand into the US market.
 
According to a press release, Archambeau has 23 years of experience in creating and financing technology companies. He founded his first company in Silicon Valley in 1982, and spent the 1990s developing a software business which was bought by e.Piphany in 1999.
 
Archambeau spent two years as a general partner at Atlas Venture in California, and in 2000 accepted a position running the European business of US venture capitalist Benchmark Capital. He left Benchmark two years later.
 
“I’m looking forward to the new challenge,” Archambeau said in a statement. “With the new fund and an expanded team, we now have the opportunity of setting new standards as a pan-European venture capital firm.”
 
Formed in 1991, Wellington Partners invests in European technology and life science start up companies and has backed 70 businesses. The firm claims an internal rate of return on its 1998-vintage Wellington I fund of 54 percent net to investors.
 
Wellington currently manages more than €350 million of capital. Last December, it announced a €85 million first close of its latest fund, Wellington Partners III Technology Fund. The fund's target is €120 million.