Lyrical Partners has launched an early-stage venture capital firm focused exclusively on opportunities in corporate intelligence.
New York City-based Lytical Ventures has raised $20m in the first close of its debut fund, which will be used to invest in cybersecurity, big data, and artificial intelligence. Lytical’s first fund is looking to raise $60m and is anchored by Lyrical Partners.
Founded in 2004 by Jeff Keswin, Lyrical Partners and its affiliates invest in and manage over $10bn in private equity, real estate, traditional equity, venture and hedge funds
Lyrical Partners founder and chairman Jeffrey Keswin said: “Corporations are generating mind-boggling amounts of data, in excess of a billion gigabytes per day.
“These corporations have a responsibility to store, secure, and analyse this data. We believe helping entrepreneurs build world-class products and services to address such responsibility is an explosive growth opportunity.”
The firm’s fund will be led by Lucas Nelson and Steve Berg lead, joining from Evolution Equity and Antecedent Ventures, respectively. They will be supported by, among others, Roselle Safran, who joins as an Entrepreneur in Residence, and by Jeremy Kroll and Tuvia Barak, who join as Venture Partners.
“Meeting corporate intelligence demands is a paramount consideration. The Kroll family has decades of experience helping enterprises across the globe address challenges and access solutions. We are excited to partner with and invest alongside the Lytical team,” added Kroll.
Earlier this month, Amplify Partners, a Menlo Park, California-based venture capital firm, closed its third fund on $200m. Founded in 2012, Amplify backs early-stage technical founders in such sectors as machine intelligence, infrastructure, developer tools and security. Its portfolio includes the likes of StackRox, Minerva Labs, Vera, among others.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
