HarbourVest makes promotions as Delbridge steps back

HarbourVest Partners has made a number of staffing changes and promotions, with the elevation of three principals to MD level and the appointment of Karin Lagerlund as Chief Financial Officer and Mary Traer as Chief Administrative Officer. In Asia, Sebastiaan van den Berg was promoted from VP to Principal and Catherine Shih from Senior Associate to VP. Concurrently, though, Kevin Delbridge, one of the three Senior MDs at the firm and one of the guiding spirits behind its Asia Pacific investment program, is to reduce his activities at HarbourVest.

Delbridge is stepping down from his senior MD post as of January 1st, and from his current positions on LP advisory boards. He has stated that he will be devoting more time to his new role as chairman of the board of trustees at Western New England College, his former college.

According to sources at HarbourVest, Delbridge’s transition will have no impact on the current Asia Pacific program. “This change is not expected to have an impact on our Asian investments or programs,” Philip Bilden, HarbourVest’s MD for Asia, told AVCJ. “Although Kevin will be reducing his time commitment, he will continue to be involved with HarbourVest.” Meanwhile, Brooks Zug, Senior MD at HarbourVest, said of the new worldwide appointments, “these promotions illustrate the growing leadership of our firm, our commitment to promote from within, and the depth and breadth of our team.”

Delbridge joined HarbourVest over 20 years ago, in 1998, from CIGNA's Venture Capital Group. He was responsible for much of HarbourVest’s early commitments to Asia Pacific platforms such as the Asian-focused investment platforms of Walden International, with repeated commitments to Walden’s Pacven Walden Ventures series of funds, and to the Castle Harlan Australian Mezzanine Partners (CHAMP) funds in Australia. Central in the opening of HarbourVest’s pioneer Hong Kong office in 1996, Delbridge long advocated the importance of China and India, well before they became fashionable destinations.

Bilden added further detail on Delbridge’s contribution to the evolution of Asia Pacific private equity. “Kevin Delbridge was one of the pioneers in Asian private equity, who helped guide the industry's first funds toward institutional structures and practices,” he continued. “He served tirelessly on advisory boards of funds such as Inter-Asia Ventures, Arral Partners (Schroder Asia), Walden, H&Q Asia, and ChinaVest. His leadership and advocacy was instrumental in the foundation of Asia's first institutionally-supported private equity partnerships, at a time when very few LPs were willing to invest in Asia. We are grateful for his contribution to the Asian private equity industry, which today rests on these initial foundations of a few pioneers such as Kevin Delbridge.”

Delbridge will remain active with HarbourVest on a part-time advisory basis. As well as his BS in Business Administration from Western New England College, he holds an MBA from the University of Massachusetts (Amherst).

“We look forward to his ongoing input on firm strategy, investment reviews, special projects, and other matters,” Bilden added. “This change is an example of our succession plan working effectively and continuing to provide investors with an experienced, knowledgeable, and stable team and platform.”

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• Topics
• Funds
• Fund-of-funds
• People
• North America
• Philip M. Bilden
• Kevin S. Delbridge
• D. Brooks Zug
• CHAMP Private Equity
• H&Q Asia Pacific
• HarbourVest Partners
• Walden International