Alta Berkeley Venture Partners has appointed Pete Magowan, the former executive vice president of business development at ARM Holdings, as the group’s fifth partner. Tim Brown, a London-based partner, said Alta Berkeley was looking to build the core team with the addition of another partner, likely to have a similar industry background in software systems or enterprise software.
Magowan commented: “The opportunity to help launch and contribute to the success of technology-related businesses is what motivates me and Alta Berkley has a superb record in this sector.” In his ten years with ARM, the UK-based semiconductor IP supplier, Magowan helped establish the company’s leading position in the microprocessor industry. By licensing, rather than manufacturing and selling its chip technology, ARM established a new business model that has redefined the way microprocessors are designed, produced and sold.
Magowan joins the London partners Tim Brown, Hugh Smith and Barun Dutta. Alta Berkeley lost two partners, David Needham and Guus Keder, earlier this year. Bryan Wood, the company’s founding partner is based in Geneva. Brown said: “Pete will be a great asset for Alta Berkeley and a perfect match for our distinctive hands-on approach to early stage VC investing… ARM is a role model for many start-ups and Pete’s broad commercial experience will be available to all of our past and future portfolio companies.”
Now in its twentieth year Alta Berkeley focuses on early stage investing in sectors including IT and communications. It is currently investing its sixth fund, which raised EURO70 million 18 months ago.