Ten Eleven Ventures has joined a growing list of cybersecurity-focused venture capital firms raising new funds to invest in startups solving information security problems.
On the heels of similar announcements by YL Ventures and SYN Ventures, Ten Eleven this week announced it had raised $600 million for its third generation fund to invest in the next wave of security companies, from seed to growth stages.
The new fund brings the firm’s total assets under management to over $1 billion and will help expand on its investment strategy that is “cyber-specific, stage-agnostic, and global in scope.”
Ten Eleven Ventures has made 40 cybersecurity investments and boasts of at least 10 exits including Darktrace, KnowBe4, Ping Identity, Verodin, and Twistlock.
Just last week, SYN Ventures announced the closing of a new $300 million fund and announced the addition of serial entrepreneur Ryan Permeh as full-time operating partner.
SYN Ventures, which has already invested in more than a dozen security-focused startups, said the new fund will be used to target investments in cybersecurity, industrial security, national defense, privacy, regulatory compliance, and data governance companies.
Prior to that, Israel’s YL Ventures announced its own $400 million fund that will be used to lead seed-stage rounds of approximately 10 startups at a pace of 3 startups per year.
Related: YL Ventures Closes $400 Million Cybersecurity Investment Fund
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Related: ForgePoint Capital Closes $450M Cybersecurity Investment Fund
Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.
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