UPDATED 08:00 EDT / FEBRUARY 19 2020

SECURITY

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:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy

THANK YOU