BD Venture Limited (BDVL), the first Venture Capital company registered with Bangladesh Securities & Exchange Commission as Alternative Investment Fund Manager, announced its second VC Investment Exit from Brain Station 23 Limited (BS-23).
The shareholding of BDVL was purchased by a consortium of private investors led by EDGE AMC Limited. The share transfer agreement was signed on January 19, 2021, at the BDVL office in Dhaka. Mr. Shafique-ul-Azam, Managing Director of BDVL, and Mr. Ali Imam, CFA, CEO of EDGE AMC represented their respective companies. Mr. Noor A Alam Chowdhury, Chairman of BDVL, Mr. Monirul Islam, FCA, MD & CEO of BDV AMC Ltd., Mr. Asif A Khan, CFA, Managing Partner of EDGE Research & Consulting Ltd., Mr. Masud Khan, Chairman of Unilever Consumer Care Limited, Mr. Montakim Ahmed, FCCA, ACA (ICAEW), Partner of ACE Advisory, Mr. Kazi Zubaidur Rahman, Director of Kazi Equities were also present at the signing ceremony.
BS-23 Limited is a leading Information Technology company serving mostly in the Business Process Outsourcing (BPO) market. The company started its operation with a team of 4 personnel. The company has seen excellent growth over the years, and is currently a team of around 350 programmers and have their presence in different countries around the world. The company currently looks to expand its business in the local market along with its growing BPO business in international markets. The company is known for a strong talent pool.
BDVL made the investment in BS-23 in the third quarter of 2016. In four years, the investment yields a five times capital gain. BDVL has been working relentlessly for the last 8 years to promote innovative and potential seed, early, and growth stage start-ups to pave their expansion through facilitating investment and other relevant services.
The majority of BDVL’s Capital comes from institutional shareholders including Banks (Mutual Trust Bank Ltd., National Bank Ltd.), NBFIs (LankaBangla Finance Ltd., MIDAS Financing Ltd., EBL Securities Ltd.), IT company (data edge ltd.) and Insurance companies (Green Delta Insurance Company Ltd., Bangladesh General Insurance Company Ltd., Asia Pacific General Insurance Company Ltd.) while the balance from reputed professional and entrepreneurs.
Since 2012, BDVL has invested in 11 startups and made a successful exit from two investee companies including BS-23. The company is now in the process of raising a Venture Capital Fund of Tk. 50 crore, which is named BDVL Venture Fund 1.