Ever the entrepreneurial industry itself, many new forms of capital came in to fill the void (pre-seed, seed, SAIFEs, bridges, piers) – but these are forms of financial innovation, rather than sector-specific knowledge or experience. We believed we could use our personal experiences and close network in the cybersecurity universe to help entrepreneurs better build and grow their businesses.Īdditionally, while cybersecurity had historically been a successful niche for some name brand venture capital funds, an unintended consequence of their own success in raising larger fund sizes (frequently $1b+) was an accidental abandonment of early-stage venture investing. Finding the right path to growth required specialized knowledge of the competitive landscape and corporate gatekeepers. The needs of highly technical, sometimes quirky cybersecurity founders were unique. Mark and I had a contrary point of view, informed by our decades of experience founding and operating cybersecurity companies. Conventional wisdom dictated that the sector was amply funded and advised by the dominant, name-brand funds who had made successful investments in the space. When Mark Hatfield and I first launched Ten Eleven Ventures in 2015, we heard some skepticism from those who wondered if there was a need for a dedicated cybersecurity investment firm. Proving the Value of Sector-Specific, Stage-Agnostic Investing We look forward to the work ahead, confident in the expert firm we have built and our unparalleled ability to source, assess, and help grow innovative cybersecurity companies that protect the digital assets and infrastructures of organizations and countries worldwide. With new capital and an expanded team in place, Ten Eleven Ventures is ready to ignite and nurture the next generation of cybersecurity companies across the globe. Additionally, four years after the launch of our first funds, we’ve grown our team to support the firm’s expansion, bringing on the complementary expertise of our new EIR Paul Ayers and new Associate Kaiti Delaney (more detail on their backgrounds may be found below). We remain committed to our principal differentiators, being sector-focused and stage-agnostic. In just four years, Ten Eleven Ventures now has ~$500M in assets under management between the newly closed TEV II Fund, TEG II Fund (a $140M growth-focused fund closed August 2018), and the fully-invested, top-performing TEV I and TEG I Funds (focused on venture and growth respectively, 2015 vintage). We will build on the track record of successful TEV I investments such as CyberGRX, Cylance, Digital Shadows, Hexadite, Jask, Twistlock and Verodin. The TEV II Fund will employ the same successful, focused strategy pursued by the TEV I Fund: leading Series A and B rounds in industry-changing cybersecurity companies while providing industry insider advice to founders. Ten Eleven Ventures, the first exclusively cyber-focused venture firm, is pleased to announce the close of our $200M TEV II Fund. News Ten Eleven Ventures Announces $200M TEV II Fund and New Team Members
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