A local venture capital firm has announced its maiden investment exit from EON Foods Limited in the latter’s office Thursday.
BD Venture Limited made the announcement in the capital at a press conference titled ‘Mark the Exit’.
EON Food Ltd deals with meat processing, value added poultry products, processed fish item and ethnic products.
The BD Venture Ltd invested Tk 20 million in the company back in January 2014 and the EON Food bought back the BD venture’s share in December 2017.
The event was organised to mark the exit.
“The exit is a milestone for the emerging business concepts,” said chairman of BD Venture Ltd M Ehsanul Haque.
The successful exit will give a momentum to the venture capital industry in Bangladesh and flourish the industry further, he added.
“Startup financing is not just about investing money, it is a holistic process that involves business planning with thoughtful growth targets and a process of building a company together”, said Managing director of BD Venture Shawkat Hossain.
Echoing Mr Hossain, Managing director of EON group Momin Ud Dowlah said they had constantly received all the necessary guidance from BD Venture in operating the business.
Currently there are about 10 venture capital companies in Bangladesh and the number is rising, speakers at the programme revealed.
BD Venture Ltd does not earn interest on its investments and works on the basis of profit-sharing, according to the officials of the company.