Venture Capital Firm Launches third Cybersecurity Fund in the Past Three Years
Warnings about cyber threats are so prevalent that people understand the importance of cybersecurity in their businesses and daily lives. SYN Ventures recognizes the ongoing and growing demand for new and effective cybersecurity solutions with the launch of the largest dedicated Cybersecurity Seed Fund in the U.S. to date.
SYN Ventures was founded by former Fortune 500 CISOs and C-level security leaders. The venture capital firm currently has over $600M of assets under management (AUM) and just announced the first closing of its dedicated Cybersecurity Seed Fund of $75 million—with a final close to be completed later this quarter.
“We’ve reviewed over 100 of the approximately 350 available seed investment opportunities in market since the launch of our first fund in 2021, without a concrete focus on the seed stage. It became wildly apparent the U.S. industry needs a dedicated fund to address this opportunity to help these founders meet the distinct challenges at this stage of a company’s development and growth – and SYN Ventures has stepped forward,” said Jay Leek, Managing Partner and Co-founder of SYN.
Syn gives seed founders and companies access to its industry networks as well as opportunities to participate in related events the firm has for their portfolio companies. The firm has created a framework that will uniquely help the earliest stage companies develop innovative cyber solutions that will also help accelerate product-market fit.
SYN Seed Fund’s focus is on transformational and disruptive solutions that will reduce technology risk, address the talent gap and help automate and enhance security programs. To achieve their goals the firm has brought together:
- a team that has a total of 250 plus years of operational security experience with investing acumen,
- a network of dozens of CISOs spanning multiple industries,
- managing partners have led more than 65 security investments, and
- the recent addition of Marcio Lempert, based in Tel Aviv, as a Venture Partner.
The Syn Ventures team will leverage their combined talent, newly dedicated resources and the experience they have gained in their group of companies to manage its new dedicated Seed Fund and assist in the success of cyber security startups.
“The SYN Ventures Seed Fund will partner with best-in-class teams and strategies at their earliest stage, collaborate with founders and assist them with everything from hiring, operations, and board governance to collaborating on their product roadmap,” said Dan Burns, Investment Committee Chairman for the SYN Seed Fund.”
