ForgePoint Capital has formally introduced its new $450 million fund, which it says is the biggest fund devoted to early stage cybersecurity and privateness startups.
The fund, the agency’s second — which it aptly named Fund II — will put money into each early stage and plenty of different growth-focused firms.
The goal is to attempt to money in early on an rising variety of startups within the cybersecurity house that might go on to grow to be the subsequent Crowdstrike or Cloudflare, each of which noticed large exits final yr after they each went public on valuations of a number of billion apiece. By investing now, it’ll assist the agency higher place itself to snap up one of the best expertise forward of an anticipated cybersecurity employee scarcity — an estimated 1.eight million staff by 2022.
Up to now, the fund has already invested in a number of early-stage startups, notably Cysiv, Huntress Labs and Safe Code Warrior.
“We imagine that world prosperity and nationwide safety rely upon a dedication to guard the digital world,” stated Alberto Yépez, co-founder and managing director at ForgePoint, who will lead the fund.
A lot of the choice making can be guided by the agency’s Cybersecurity Advisory Council, made up of 60 trade leaders and investing specialists. Simply 11% of the advisory council are ladies.
ForgePoint beforehand invested in Qualys, AlienVault and Appthority to call just a few of its high-profile exits.