YL Ventures, a venture capital company that focuses on early-stage CyberTechs, has concluded a $400m fund aimed at support growing cyber firms.
According to Security Week, YL plans to use the fund to ramp up investments in Israel’s security technology sector. The VC has already invested in CyberTechs like Orca Security and Axonius.
YL claims that the closing of its fifth fund brings the total capital under management to $800m.
The company said the plan is to use the new funding to support Israeli security startup founders ‘from inception through every critical stage’ of building and positioning a firm to solve pressing security problems.
YL added that the fund will be used to lead seed-stage rounds of approximately 10 startups at a pace of 3 startups per year, with the VC investing in the firms’ follow-on rounds.
YL Ventures managing director Yoav Leitersdorf said, “For the past 15 years, our primary priority has been providing our portfolio companies with everything they need from the very beginning in order to break into the global market.
“We plant the first seed in these budding startups and then continue to support them as they blossom [and] succeed.”
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Copyright © 2018 RegTech Analyst