Telefonica taps home talent as Wayra chief

Telefonica has promoted long-time insider Andres Saborido to lead its venture capital arm Wayra, tying the unit more tightly to the group’s wider "Transform and Grow" strategy. His brief is to use Wayra’s investments to drive internal change at Telefonica and position the unit as a more attractive partner for corporates and public and private organisations. Future investment priorities include cybersecurity, AI, networks and communications, and user experience.

Saborido helped found Wayra, launched its Argentina branch in 2011 and has led its Spanish operation since 2014. As global COO, he managed investments in Brazil, Spain, the UK and Germany, oversaw the startup-focused Innovation Services business and, according to Telefonica, helped build seed investment ecosystems in Latin America and Europe, signing more than 300 investment deals. Telefonica also credited outgoing CEO Irene Gomez with turning Wayra into a recognised name in corporate venture capital.