Airbus on acquisition trail in the US

European planemaker sets up Silicon Valley venture capital fund

European planemaker Airbus is on the hunt for innovative US businesses whose technologies could add value to its commercial aerospace activities.

The Toulouse-based company is to set up a $150 million corporate venture capital fund, dubbed Airbus Group Ventures, as well as a technology and business innovation centre in Silicon Valley.

The location of both will “expand the company’s international presence and enhance its ability to capitalise on innovative and transformational technologies and business models”, said the firm.

Tom Enders, chief executive of Airbus Group said: “Our investment and engagement through these new initiatives are key elements in the global transformation of our company. Silicon Valley serves as a unique hub for technology breakthroughs and we see huge opportunities to learn from and partner with the many players based there.”

Tim Dombrowski has been appointed chief executive officer of Airbus Group Ventures, and will oversee the spending of up to $150 million on new companies and technologies.

Prior to leading Airbus Group Ventures, Dombrowski was a partner at the venture capital firm Andreessen Horowitz, where he focused on enterprise portfolio company development.

Meanwhile, Paul Eremenko has been appointed chief executive of the Airbus Group Silicon Valley technology and business innovation centre. He joins the company from Google, where he has served as director of engineering in the Advanced Technology and Projects (ATAP) organisation.

Eremenko also brings aircraft design experience to the new set-up, having previously led the development of the GoldenEye-100 unmanned aerial vehicle at Aurora Flight Sciences and various UAV platforms at the Charles Stark Draper Laboratory.