Rally Ventures, which invests in early-stage business technology companies, is looking to raise up to $150m for its third venture capital fund.
Rally Ventures Fund III has yet to disclosure any commitments from LPs according to a filing with the US Securities and Exchange Commission. The firm are yet to disclose a first close for the vehicle and it is unclear if the total offering amount is a target or a hard cap.
Rally is run by general partners Charles Beeler and Jeff Hinck, both formerly of El Dorado Ventures. The Minnesota- and Menlo Park-based firm is focused on sectors including security, big data, cloud technologies, infrastructure software, mobility, IoT, SaaS, and storage.
Its security portfolio currently includes six companies including CyberGRX, a third-party cyber risk management platform, and Twistlock, which provides the industry’s first enterprise suite for container security.
The portfolio also includes Verodin, which empowers customers to measure and continuously validate the cumulative effectiveness of layered security infrastructures, revealing true security posture, and Sqrrl, a Big Data Analytics company that lets organisations pinpoint and react to unusual activity by automatically uncovering hidden connections in their data.
Earlier this year, Rally participated in Bugcrowd’s $26m in Series C round. The funding was led by Triangle Peak Partners, with participation from existing investors Blackbird Ventures, Costanoa Ventures, Industry Ventures, Paladin Capital Group, Salesforce Ventures and Stanford. Based in San Francisco, Bugcrowd’s platform, Crowdcontrol, connects the global security researcher community to the security market. The company’s in-house team of security experts work with users to create custom-tailored programs, complete with end-to-end management.
Cybersecurity investments declined in Q1 2018 as later-stage deals dried up according to recent report from FinTech Global. Total investment in Q1 2018 reached just $725.8m, a fall of 47.7% from the previous quarter. However, compared to the same quarter in 2017, total funding increased by 27%. The drop in investment in Q1 2018 can be attributed to a lack of later-stage deals valued above $100m.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
