Marc Sabas, previously head of business development and partnerships of global core innovation at telecommunications firm Telefónica, has become venture principal at Centrica Ventures, UK-based energy utility Centrica’s corporate venturing subsidiary.
Sabas told Global Corporate Venturing he had spent five years at Telefónica, and in February 2018 he co-founded an intrapreneurial unit called Internet para todos, where he identified and partnered technology companies disrupting the telecommunications space.
The partnerships in question include Project Loon and Facebook Connectivity, respective subsidiaries of internet and technology group Alphabet and social media company Facebook that seek to provide internet access to remote areas.
Prior to joining Telefónica, Sabas had been investment adviser for Europe and the US regions at Spain-based business-to-business (B2B) technology venture capital fund Mundi Ventures from 2015 to 2017, helping to structure and launch its fund management firm and raise two funds.
Sabas said: “I was also an executive adviser to Mundi Lab, an insurtech startup program sponsored by (reinsurer) Munich Re which selected 20 startups across two batches. I actively participated in the sourcing and screening process and created a five-week intensive in-person program in Madrid.”
Sabas mentioned some challenges in his new role, such as shaping Centrica’s brand as a partner of choice for VC investments in Europe, building strong relationships both internally and externally at the company, and ensuring value to both startup partners and internal business units.
“I want to build a leading and value-accretive corporate venture capital arm together with my colleagues at Centrica,” Sabas said. “The energy startup space is still not as hyped as other industries offering untapped opportunities for those with knowledge and focus on the sector.
“As a CVC investor, Centrica offers clear value to startups looking for a strong energy partner with a vast client base across B2B and B2C (business-to-consumer) in the UK, Ireland and the US. This helps to differentiate us and to focus our portfolio management efforts.
“There is a growing convergence of industries and technologies, like communications or insurance and energy, big data and AI applied to energy efficiency. This benefits professionals coming from other industries – like in my case with telecoms and insurance industry experience.”
Photo of Marc Sabas courtesy of LinkedIn.
