British businessman Mike Lynch is missing after the yacht he was on capsized in Sicily leaving at least one person dead. 

Angela Bacares, Mr Lynch’s wife, was among those rescued after the incident. 

Mr Lynch is the co-founder of software company Autonomy Corporation and the founder of Invoke Capital. A spokesperson for Mr Lynch said there was no comment.

The body of one missing passenger was recovered close to the wreck at a depth of 164 ft a few hours into the search mission.

Before the recovery of the victim, believed to be a man, the Italian coast guard said: “There are currently seven missing, one crew member and six passengers, of British, American and Canadian nationality.”

The captain of the Sir Robert, one of the first ships to intervene to rescue the passengers, said the Bayesian “tilted to one side and within minutes the boat sank, it all happened in a very short time.”

One of the passengers described the harrowing experience as she spoke of her efforts to keep her young daughter, Sophie, safe after the sinking.

The woman, named locally as Charlotte, told Italian newspaper La Repubblica: “I held her afloat with all my strength, my arms stretched upwards to keep her from drowning.

“It was all dark. In the water, I couldn’t keep my eyes open. I screamed for help but all I could hear around me was the screams of others.”

The sailboat had overturned sometime before 5 a.m. off the port of Porticello, near Palermo, where it was anchored. It had a crew of 10 people and 12 passengers, including British, American and Canadian nationalities, the Italian coast guard said.

Local media said a sudden fierce storm, including tornados over water known as waterspouts, had battered the area overnight but skies were clear and seas calm by Monday morning.

The 184-foot British-flagged Bayesian was known for its single 246-foot mast, one of the world’s tallest made of aluminium and which was lit up at night, just hours before it sank. Online charter sites list it for rent for up to 195,000 euros (about $215,000) a week.

Eight of the 15 people rescued and taken to shore at Porticello were hospitalised. One body was found near the wreck, but six others were unaccounted for, said Luca Cari, a spokesperson for the Italian fire rescue service.

Rescue crews located the vessel at a depth of 163 feet off Porticello and deep-water police divers were trying to access the hull, Cari said.

The operations, which were visible from shore, involved helicopters and rescue boats from the Coast Guard, fire rescue and civil protection service.