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BGV reaches first close of third fund

Benhamou Global Ventures (BGV), an early-stage venture capital firm which focuses on enterprise IT opportunities in global markets, has held the first close of its third fund with over 50 per cent of the targeted USD75 million fund committed to date.

Investors in the third fund include both existing limited partners (LPs) as well as new international and institutional LPs including several Chinese investors.
Extending the strategy of fund BGV II, BGV III will focus on enterprise IT sectors including cyber security, cloud-based services and applications, web scale infrastructure, advanced analytics and industrial Internet of Things.
BGV recently made its first investment from BGV III in Totango in syndication with Pitango Venture Capital, Canvas Ventures, and Interwest Capital.
Totango specialises in the emerging “customer success management” category. Totango provides a complete platform for customer success professionals to streamline their customer onboarding processes, maximise user engagement, minimise churn and increases the upsell success rate of a subscription business. It has helped over 300 customers mitigate account risks and grow their recurring revenues. The company is headquartered in Silicon Valley with R&D in Israel.
Eric Benhamou will join the Totango board as chairman.
"Enterprise reliance on SaaS and cloud products is peaking and we see the need for customer success technology," says Benhamou. "We have identified Totango as the most complete customer success solution on the market and an early leader in the enterprise space. With their significant traction and incredible industry knowledge, we are confident in their efforts and will provide our expertise to help them navigate this period of significant growth."
Totango CEO Guy Nirpaz says: "Today's customer success executives are expected to deliver predictable revenue outcomes from their cloud businesses, constantly improve team efficiency, and prove their products' ROI to survive. We are excited for Eric and his team at Benhamou Global Ventures to share their expert guidance as we make customer success operations more efficient and drive positive revenue impact for our customers."
BGV has also expanded its team with the addition of Amir Nayyerhabibi as partner and Shuo Zhang as China advisory partner.
Nayyerhabibi is a serial entrepreneur and an experienced CEO with successful exits including StratumOne Communications (acquired by Cisco), AuroraNetics (acquired by Cisco) and Cortina Systems (acquired by InPhy and RealTek). At Cisco, he was responsible for managing the routing business unit. He serves as the chairman of the board of NGD systems.
Zhang has 25 years of experience in general management, marketing, sales, and strategic business development in the semiconductor industry. She has held senior executive positions at LSI Logic, Altera, Agilent Technologies, Avago, and Cypress Semiconductor. She is currently the founder and managing director of Renascia, a boutique M&A advisory firm headquartered in Silicon Valley with a deep client base in China.

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