Trident Capital Cybersecurity Raises USD300 Million Venture Fund in cybersecurity firms

Venture Capital Firm, Trident Capital, raises USD300 million to invest in Cybersecurity Startups

Silicon Valley: Trident Capital Cybersecurity (TCC) announced that it had raised a sum of USD300 Million fund primarily for investment in cybersecurity based startups. This funding acts as a clear indicator of the importance of cybersecurity in information technology sector with growing apprehensions over state-sponsored hacks.

The TCC firm has earlier invested in five companies, namely 4iQ, Appthority, Bayshore Networks, ID Experts, and IronNet Cybersecurity, through Fund I and is expected to obtain investments from across the globe, with its prime focus on the U.S., Canada, Israel, and North Europe.

The team of Trident Capital has a 47-person Cybersecurity Industry Advisory Council, consisting of industry CEO’s, customers, along with former government leaders. The firm’s Managing Director Sean Cunningham said- "It's a world-class group of cyber-focused thought leaders. The Council meets formally multiple times a year to evaluate cybersecurity market trends and to identify industry gaps. We also utilize this group to advise and guide our portfolio companies, ultimately creating highly inventive companies with strong venture outcomes."

The company believes that cybersecurity is an exceptional area for investment to enable companies to fight back against intruders and hackers that pose a threat to the cyber world. Further, it aims at investing in areas including Internet of Things (IoT), secure payments and fraud, next-generation identity platforms, behavioural analytics, privacy and security, etc.

TechSci Research depicts that the need for adoption of cybersecurity principles is witnessing an increase for the minimization of destructive effects of cybercrimes, across the globe. However, with such efforts being taken by the venture capital firms for prevention of intrusions, the increasing threat to cybersecurity would certainly see a downfall due to which the market of cyber security is expected to witness an increase in coming years.

According to recently released report by TechSci Research, “Global Cyber Security Market By Security Type, By Solutions, By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021”, global market for cyber security is projected to surpass US$ 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years. Though the global cyber security market is highly fragmented, Symantec Corporation emerged as the largest player in 2015, followed by BAE Systems PLC, Intel Corporation and Cisco Systems. Banking, Financial Services and Insurance (BFSI); IT & Telecom; defense; energy & power; retail; and healthcare have emerged as the key application areas where cyber security solutions are being increasingly adopted.