Benhamou Global Ventures (BGV), an early-stage venture capital firm, has completed two more exits from BGV II, which first invested in 2014.
Zentri, a BGV II seed investment, was acquired by Silicon Labs.
Grid Dynamics, another early BGV II investment was acquired by Teamsun through its Hong Kong subsidiary Automated Systems.
"These two exits showcase our fund's investment strategy when investing in early stage enterprise IT," says 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 favourable outcomes for each portfolio company, the technology, the management team and our investors."
While smaller VC funds are relatively new phenomena, a Cambridge Associates 2014 report found that funds with less than USD500 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.
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 five systems integrator in China.
"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," says Leonard Livschitz. "BGV understood our technology, our customers and the global marketplace in a way that helped ensure we maximised 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," says 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, 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 supplier of silicon, software, and solutions. 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.
