SYN Ventures – the only VC firm founded and led exclusively by former Fortune 500 CISOs and C-level security leaders with over $600 million of assets under management (AUM) – announced the first closing of its dedicated cybersecurity seed fund with over $75 million, the largest cyber seed dedicated fund domiciled in the United States. The firm also expects to do a final close later this quarter.
The SYN Seed Fund is going to focus on investing in transformational and disruptive solutions, not incremental features, where there is an opportunity for reducing technology risk, addressing the talent gap, and helping automate and enhance security programs.
The firm also plans to invest in opportunities to utilize its CISO and industry relationships to accelerate growth uniquely. SYN’s team combines more than 250 years of operational security experience with investing insight and a trusted network of dozens of CISOs spanning multiple industries that actively help entrepreneurs accelerate the growth of their companies to better protect against the ever-evolving threat landscape.
SYN Managing Partners have led more than 65 security investments. And examples of previous seed investments include Accurics (acquired by Tenable), Carbon Black (IPO), Crash Override, CyberGRX (acquired by Process Unity), Mitiga, Query AI, Refine Intelligence, Revelstoke, SynSaber, and Synqly. SYN’s other investments include Adlumin, Boldend, Cranium AI, Halcyon, Metabase Q, Netography, Oomnitza, Pangea, Phosphorus, Qwiet AI, RegScale, Reveal Security, Sevco, Talon, Transmit Security and Upfort.
SYN Ventures will utilize its experience with this group of companies to manage its new dedicated Seed Fund. And Marcio Lempert (based in Tel Aviv) has joined SYN full-time as a Venture Partner with the launch of the SYN Seed Fund.
KEY QUOTES:
“The SYN Ventures Seed Fund will partner with best-in-class teams and strategies at their earliest stage, collaborate with founders and assist them with everything from hiring, operations, and board governance to collaborating on their product roadmap.”
— Dan Burns, Investment Committee Chairman for the SYN Seed Fund
“We’ve reviewed over 100 of the approximately 350 available seed investment opportunities in market since the launch of our first fund in 2021, without a concrete focus on the seed stage. It became wildly apparent the U.S. industry needs a dedicated fund to address this opportunity to help these founders meet the distinct challenges at this stage of a company’s development and growth – and SYN Ventures has stepped forward. With exclusive access to our vast industry networks for our seed founders and companies, and the opportunity to participate at the related events for our portfolio companies, we’ll now be able to help the earliest stage companies develop next-generation cyber solutions and find product-market fit faster than ever before. This fund is a major milestone for cybersecurity in the U.S.”
— Jay Leek, Managing Partner and Co-founder of SYN
