Benhamou Global Ventures has closed its third fund at $80 million. BGV III’s limited partners include several unnamed American, European and Chinese investors. The fund will focus on enterprise IT sectors. So far BGV III has made five investments, which include Secret Double Octopus, an Israeli cyber security company and Sherpa Digital Media, an augmented reality startup. No financial terms were disclosed.
Palo Alto, CA June 28, 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 the final close of their third fund with $80 million of investable capital. Investors in the third fund include both existing LPs as well as new international and institutional LPs including several US, European and Chinese investors.
Extending the strategy of fund BGV II, BGV III will focus on enterprise IT sectors including cyber security, cloud-based infrastructure services and applications, web scale infrastructure, advanced analytics and artificial intelligence as well as industrial Internet of Things (IOT). The firm will continue its cross-border investment strategy, identifying and investing in promising companies originated in Israel, Europe and Asia.and helping them build a presence in Silicon Valley.
BGV has made 5 investments from the BGV III fund recently:
Bayshore Networks, an emerging leader in Industrial IOT cyber security was completed in March 2017 and was syndicated with Trident Capital. The company secures and protects critical Industrial IOT assets.
Secret Double Octopus (SDO) is an Israeli cyber security company whose breakthrough technology enables a password-free environment with trust channels established via a mobile phone app. That investment was completed in April 2017 and was syndicated with JVP, Iris Capital, and Liberty Media Ventures.
Sherpa Digital Media, an emerging leader in Augmented Reality for the enterprise, was completed in June 2017 and was syndicated with Rally Ventures. The company securely manages, measures and automates video content and reaches customers, prospects and employees across all devices and locations.
6d bytes an emerging leader in robotics, machine vision and AI, was completed in June 2017 and was syndicated with Partech and leading angel investors such as Plug and Play. The company is transforming the way the food and beverage industry approaches the preparation and serving of healthy foods.
Drishti, a computer vision spin-off of SRI (Stanford Research Institute, Menlo Park) joined the BGV portfolio in June 2017 and was syndicated with Andreessen Horowitz (a16z). It provides a highly innovative solution to improve the efficiency of human operators in manufacturing assembly lines.
“We are grateful to enjoy the support of exceptional repeat and new investors in fund III to implement our investment strategy,” said Eric Benhamou, founder and general partner of Benhamou Global Ventures. “The sales of Grid Dynamics (acquired by TeamSun) and of Zentri (acquired by Silicon Labs) in Q1 2017 are a further evidence of the success of the BGV model.”
The partners of BGV III are Eric Benhamou, Anik Bose, Eric Buatois, Yashwanth Hemaraj, Marina Levinson, Amir Nayyerhabibi, Janice Roberts based in BGV’s Palo Alto office, and Barak Ben Avinoam (based in BGV’s Tel Aviv office in Israel).
About Benhamou Global Ventures
BGV is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus on enterprise technology opportunities in global markets. BGV currently has 25 active companies in its portfolio. The BGV team of 8 investment professionals has successfully built and implemented a cross-border venture-investing model with companies from Israel, Europe and Asia. Eric Benhamou, former chairman and CEO of 3Com, Palm and co-founder of Bridge Communications, founded the firm in 2004. 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. For more information, visit www.benhamouglobalventures.com.