ForgePoint Capital raises $450M for its second cybersecurity investment fund
ForgePoint Capital said today it has raised $450 million in its second fund to invest in early-stage and select growth companies in the cybersecurity sector, taking its funds under management to $750 million.
The venture capital firm has been a prolific investor in cybersecurity startups. Investments included access control startup Remediant Inc. in August, app security startup NowSecure in June and IoT security provider Mocana Corp. in March. Fund II focus areas include cyber intelligence, privacy, security services and infrastructure protection.
“We believe that global prosperity and national security depend upon a commitment to protect the digital world,” ForgePoint Capital co-founder and Managing Director Alberto Yépez said in a statement. “At ForgePoint, we have assembled one of the most experienced teams of cybersecurity experts. We bring deep operating know-how from more than 80 years of combined industry.”
Guiding its focus is the ForgePoint Cybersecurity Advisory Council, with 60 active members that include entrepreneurs, chief executive officers of private and public cybersecurity companies, chief information security officers of major organizations and former government security leaders. The council provides what ForgePoint considers a unique source of investment and company-building opportunities for portfolio companies.
ForgePoint has already made several investments using the new fund, including security-operations-center-as-a-service startup Cysiv LLC on Feb. 12 and advanced threat protection startup Huntress Labs Inc. just yesterday.
Although much of the focus is on what ForgePoint Capital invests in, the VC firm has also had a number of successful exits. ForgePoint was an investor in cybersecurity firm Centrify Inc., a majority stake of which was sold to Thoma Bravo in July 2018, as well as runtime application self-protection security startup Prevoty that was acquired by Imperva Inc. for $140 million in July 2018. Appthority Inc., another ForgePoint portfolio company, was acquired by Symantec Corp. in November 2018.
Image: ForgePoint Capital/LinkedIn
A message from John Furrier, co-founder of SiliconANGLE:
Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.
We really want to hear from you, and we’re looking forward to seeing you at the event and in theCUBE Club.