SOURCE: Benhamou Global Ventures

Benhamou Global Ventures

April 07, 2017 06:00 ET

Benhamou Global Ventures Announces Two Exits From BGV II

Firm's Global Enterprise Operating Expertise Bolsters Early-Stage Tech Entrepreneurs

PALO ALTO, CA --(Marketwired - April 07, 2017) - Benhamou Global Ventures (BGV), an early-stage venture capital firm with deep Silicon Valley roots and an exclusive focus on enterprise information technology opportunities in global markets, announced two more exits from BGV II -- which first invested in 2014. Zentri, a BGV II seed investment, was acquired by Silicon Labs and Grid Dynamics, another early BGV II investment was acquired by Teamsun through their Hong Kong subsidiary Automated Systems Limited.

"These two exits showcase our fund's investment strategy when investing in early stage enterprise IT," said Anik Bose, General Partner at Benhamou Global Ventures. "BGV's cross border innovation combined with the partnership's deep company building experience and ecosystem relationships continue to deliver favorable outcomes for each portfolio company, the technology, the management team and our investors."

While smaller VC funds, also known as Micro VC, are relatively new phenomena, a Cambridge Associates 2014 report found that funds with less than $500 million account for over half of value creation in venture capital most years. These two exits place BGV II at the top decile of historical average performance in the VC industry for vintage 2014 fund results. And, the unique no-management fee structure of BGV II has kept Benhamou Global Ventures well-aligned with its portfolio and its limited partners.

Grid Dynamics Acquired by Teamsun
Grid Dynamics, an engineering solutions company known for transformative, mission-critical cloud solutions for retail, finance and technology sectors was acquired by Teamsun (through their Hong Kong subsidiary ASL), one of the top 5 systems integrator in China. Teamsun acquired Grid Dynamics for its blue chip customer base, its world-class competency and industry specific blue prints in big data analytics, scalable omni-channel services, DevOps and cloud enablement. Grid Dynamics built a global profitable business with 700 + engineers in Eastern Europe. Teamsun, one of the top 5 systems integrator, in China is publicly traded on the Shanghai stock exchange.

"Eric Benhamou and his team at BGV were instrumental in our successful growth and preparing us for the growth path we will continue now that we've joined Teamsun," said Leonard Livschitz. "BGV understood our technology, our customers and the global marketplace in a way that helped ensure we maximized value and had the most significant impact possible."

"The success of our work with Leonard Livschitz, while CEO of Grid Dynamics, and with Victoria Livschitz, founder and CTO, is a testament to not only their entire team's work ethics and technical skills, but also to their drive to create the best possible outcomes for Global 1000 customers," said Eric Benhamou, founder of Benhamou Global Ventures and a director of Grid Dynamics. "Now as a driving force with Teamsun, I'm confident Leonard will continue to drive innovation and success for customers worldwide.

Zentri Acquired by Silicon Labs
Zentri, an innovator in low-power, cloud-connected Wi-Fi technologies for the Internet of Things was acquired by Silicon Labs which was announced by the companies in January 2017. Silicon Labs is a leading supplier of silicon, software, and solutions acquired Zentri for its unique combination of modules, embedded and cloud software, APIs and tools that enables rapid development of secure IoT end node products in a matter of weeks. By eliminating the need for wireless design expertise and providing a library of cloud-connected applications, Zentri allows IoT device makers to focus on differentiating their products and speeding time to market.

About Benhamou Global Ventures
BGV, is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus on enterprise information technology opportunities in global markets. BGV currently has 20 active investments across its fund II and fund III portfolios. The BGV team has successfully built and implemented a cross-border venture investing model with companies from Israel, Europe and Asia. The fund was founded by Eric Benhamou, former chairman and CEO of 3Com, Palm and co-founder of Bridge Communications. Comprised of an experienced partnership team of global operating executives and investors, BGV is often the first and most active institutional investor in a company and has a powerful network of technical advisors, executives and functional experts who actively engage with its portfolio companies. The company has offices in Palo Alto, California and Tel Aviv, Israel.

Twitter: @BenhamouGlobalV

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