SYN Ventures Launches Largest Dedicated Cybersecurity Seed Fund in U.S. History
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The Seed Fund is Firm’s Third Cybersecurity Fund in the Past Three Years
WEST PALM BEACH, Fla., October 11, 2023-- SYN Ventures, the only venture capital firm founded and led exclusively by former Fortune 500 CISOs and C-level security leaders with over $600M of assets under management (AUM), today announced the first closing of its dedicated cybersecurity seed fund with over $75 Million – the largest cyber seed dedicated fund domiciled in the United States. The Firm expects to do a final close later this quarter.
The SYN Seed Fund will focus on investing in transformational and disruptive solutions, not incremental features, where there is an opportunity to reduce technology risk, address the talent gap and help automate and enhance security programs.
“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. The Firm plans to invest in opportunities where it can leverage its CISO and industry relationships to uniquely accelerate growth.
“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. “With exclusive access to our vast industry networks for our seed founders and companies, and the opportunity to participate at the related events for our portfolio companies, we’ll now be able to help the earliest stage companies develop next-generation cyber solutions and find product-market fit faster than ever before. This fund is a major milestone for cybersecurity in the U.S.”
The SYN team combines over 250 years of operational security experience with investing acumen and a trusted network of dozens of CISOs spanning multiple industries that actively help entrepreneurs accelerate the growth of their companies to better protect against the ever-evolving threat landscape.
The SYN Managing Partners have led more than 65 security investments. Examples of previous seed investments include Accurics (acquired by Tenable), Carbon Black (IPO), Crash Override, CyberGRX (acquired by Process Unity), Mitiga, Query AI, Refine Intelligence, Revelstoke, SynSaber, and Synqly. SYN’s other investments include Adlumin, Boldend, Cranium AI, Halcyon, Metabase Q, Netography, Oomnitza, Pangea, Phosphorus, Qwiet AI, RegScale, Reveal Security, Sevco, Talon, Transmit Security and Upfort.
SYN Ventures will leverage its experience with this group of companies to manage its new dedicated Seed Fund. Finally, Marcio Lempert, based in Tel Aviv, has joined SYN full-time as a Venture Partner with the launch of the SYN Seed Fund.
About SYN Ventures
SYN Ventures is a venture capital firm focused on investing in disruptive and innovative security companies in the cybersecurity, industrial security, national defense, privacy, regulatory compliance, and data governance industries. The firm’s dedicated security team of former CISOs, CEOs and Founders has a proven track record with over 250 years of security investing and operational experience. SYN also has a highly distinguished network of seasoned security advisors and CISOs. For more information on SYN Ventures, please visit: https://www.synventures.com/.
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