Draper Esprit appoints secondaries head

Jonathan Sibilia was appointed to the position at the venture capital investment firm in early December.

Draper Esprit has promoted an executive in its London office to head of secondaries investments, according to a statement.

Jonathan Sibilia
Jonathan Sibilia

Jonathan Sibilia was appointed to the position at the venture capital investment firm in early December. Sibilia, who joined in 2009, will be responsible for all aspects of Draper Esprit’s secondaries business, including strategy, investments, fundraising and portfolio construction.

“Jonathan has been a critical part of our secondaries work so far and we are delighted that he will now lead this area in the business,” Simon Cook, Draper Esprit’s chief executive, said in the statement.

Sibilia takes over from Olav Ostin, a spokeswoman confirmed. Ostin was a managing partner who spent four years at the firm and left in November, according to his LinkedIn.

Prior to joining Draper Esprit, Sibilia worked in the technology group at Jefferies International focusing on cross-border M&A, and debt and equity offerings, and also has experience at Rothschild in Paris.

Draper Esprit‘s secondaries business focuses on the European venture market and acquires direct holdings as well as portfolio from tech investors. The firm has completed some of the largest secondaries deals in the sector in Europe, including the £170 million ($215 million; €203 million) purchase of 3i’s venture portfolio backed by Coller Capital and HarbourVest Partners, and the £234 million acquisition of Cazenove’s VC fund, according to the statement.

The firm listed in London and Dublin in June, raising about £103 million of initial capital. According to a document accompanying the IPO, Draper Esprit manages five secondaries funds including three legacy vehicles that are in run-off mode.

Draper Esprit has £560 million in asset under management and operates from offices London, Dublin and Cambridge, UK, according to PEI data.