Sigma Partners, a Menlo Park venture capital firm, has appointed Fahri Diner as partner.
Here is the announcement, which provides a bio of Diner.
Diner is a former entrepreneur active in the communications area. The appointment is notable because it is getting rarer for venture firms to hire people in the communications area. Firms like Sevin Rosen, WorldView and many others have experienced hardships because of the maturity in that sector.
Still, Diner founded Qtera Corporation, which provided long-haul photonic networking products, and became an impressive hit when it was acquired by Nortel Networks for $3.25 billion during the Internet boom years.
Most recently, Diner served as partner of Applied Materials’ investment arm, but experienced a rocky ride when Applied decided to shut down the operations. Diner co-founded Concept Ventures as a way to buy a portion of Applied’s venture assets. We are not aware of the results of Diner’s investments at Applied.
In November, Applied revived is venture efforts by bringing them in-house, and did not comment about the reason for the shift.