Dedicated seed fund for cyber start-ups announces first close
West Palm Beach-based SYN Ventures was the firm that led the $20 million Series A funding round for RegScale.
In August 2022, we reported that West Plam Beach, FL-based SYN Ventures had led a $20 million Series A funding round for RegScale, the compliance automation software company with headquarters in Tysons Corner, VA, and its research and development operation in Knoxville.
Recently, the only venture capital firm founded and led exclusively by former Fortune 500 Chief Information Security Officers (CISO) and C-level security leaders, has announced the first closing of its dedicated cybersecurity seed fund with more than $75 million in commitments. That makes it the largest dedicated cyber seed fund domiciled in the U.S. SYN Ventures expects to do a final close before the end of 2023.
“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,” said Dan Burns, Investment Committee Chairman for the SYN Seed Fund. The firm plans to invest in opportunities where it can leverage its CISO and industry relationships to uniquely accelerate growth.
“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,” said Jay Leek, Managing Partner and Co-founder of SYN. “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.”
Click here to read the news release.
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