BGV closes $80m early stage VC fund

Arik Benhamou

Benhamou Global Ventures Israel investments include customer monitoring company Totango and cyber security company Secret Double Octopus.

Benhamou Global Ventures has closed an $80 million early-stage venture capital fund. Investors in the third fund, which will focus on enterprise information technology opportunities in global markets, include both existing Limited Partners (LPs) as well as new international and institutional LPs including several US, European, Israeli and Chinese investors. Based in Silicon Valley, BGV's Israel office which was opened in 2014 is headed by Barak Ben Avinoam.

BGV's Israel investments include customer monitoring company Totango and the BGV III fund has already made one Israeli investment in cyber security company Secret Double Octopus whose technology enables a password-free environment with trust channels established via a mobile phone app.

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).

"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."

Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Arik Benhamou
Arik Benhamou
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