Thursday, June 7, 2007

Benchmark Spins Out Europe Business

Menlo Park-based Benchmark Capital have spun out the firm's European business, Benchmark Capital Europe. The firm said Thursday that it has created a separate European business, renamed as Balderton Capital. The newly independent venture group will have $1.5B under management. Benchmark said that the change will not alter its existing fund or investor structures. Among the firm's portfolio firms is Habbo Hotel, Alphyra, MySQL, MySQL, and Bebo.