SYN Ventures Closes $300M Fund for Cybersecurity Bets

1 year ago 60

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SYN Ventures, a Florida-based venture capital firm placing early-stage bets in cybersecurity startups, has closed 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.

The addition of Permeh as operating partner provides credibility to SYN Ventures as it looks to compete with a growing list of venture capital firms dedicated exclusively to information security investments.

Permeh is a serial entrepreneur and angel investor who co-founded and worked as Chief Scientist at Cylance, an anti-malware company that was acquired by BlackBerry in 2018.

Some of SYN’s investments include Adlumin, Boldend, Halcyon, Metabase Q, Netography, Pangea, Phosphorus, Query.ai, SecZetta, Sevco Security, ShiftLeft, SynSaber, TrackerDetect, Revelstoke and Transmit Security.

The news of SYN’s $300 million fund comes a few weeks after 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.

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. Ryan is a veteran cybersecurity strategist who has built security engagement programs at major global brands, including Intel Corp., Bishop Fox and Kaspersky GReAT. He is a co-founder of Threatpost and the global SAS conference series. Ryan's past career as a security journalist included bylines at major technology publications including Ziff Davis eWEEK, CBS Interactive's ZDNet, PCMag and PC World. Ryan is a director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world. Follow Ryan on Twitter @ryanaraine.

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