Cyberstarts, an Israel-based venture capital firm that specializes in early-stage cybersecurity startups, has raised $480 million for its Opportunity Fund. The fund will focus on follow-on investments in portfolio companies that are raising Series A and Series B rounds.
Backed by Sequoia Capital, Cyberstarts announced the fund raising after securing $200 million for its Opportunity Fund just a year ago. The firm’s previous funds include Cyberstarts I, with an initial fund of $54 million, and Cyberstarts II, which launched in 2020 with $100 million to support cybersecurity startups in seed and Series A rounds.
The Cyberstarts Opportunity Fund has already attracted investment from 57 investors, aiming for a final target of $600 million. These investors include industry leaders who provide strategic guidance, such as advice on product-market fit and talent recruitment, to portfolio companies and entrepreneurs.
Gili Raanan, the founder of Cyberstarts, expressed his confidence in the firm’s ability to support entrepreneurs and their businesses as they grow. He stated, “The Opportunity fund is another assurance for them and a new generation of entrepreneurs that we can and will support them with a constant flow of cash as they grow their businesses.”
Cyberstarts’ portfolio companies consist of successful startups in the cybersecurity space. This includes Bionic, a cloud security startup sold to CrowdStrike for an estimated $350 million, Fireblocks, which developed secure asset transfer software and raised over $500 million at a valuation of $8 billion, and Axis Cybersecurity, a cloud security platform acquired by Hewlett Packard Enterprise earlier this year.
With the additional funding from the Opportunity Fund, Cyberstarts is well-positioned to continue its support of early-stage cybersecurity startups and contribute to the growth and innovation of the industry.
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