New York City-based Team8 confirmed to QA Financial it has raised a record $500 million in fresh funds.
The rapidly growing Israeli-American investment vehicle that solely invests in IT security and cybercrime startups that service the finance space said that, as a result of the capital injection, its total assets under management have hit the $1 billion mark.
“While the venture capital industry has remained relatively unchanged for many years, the innovation engines and landscape surrounding it have changed,” remarked Yuval Shachar, managing partner and chairman at Team8.
Since launching in 2014, the Team8 model “has innovated and extended the traditional venture capital approach by taking a more aligned and operationally intensive approach to investing,” he added.
Portfolio
To date, Team8 claimed it has built 20 IT security companies, invested in an additional 21, and achieved eight exits, including the recent cyber exits of Dig and Talon for a total amount of around $1 billion, combined.
In addition, “we are expanding our focus beyond its original scope of software security, IT management and cybersecurity to fintech, data infrastructure and AI,” Shachar added.
He stressed that the latest investment underpins and highlights the importance of IT security firms and software developers for the financial services space.
“In the face of strong market headwinds, including global economic hurdles, downturns in the tech market, and a complex geopolitical climate – our announcement further emphasises the resilience of our model.”
Shachar concluded by saying that “amidst the demanding market conditions, we have been making meaningful distributions to our investors, building new IT startups, cybercrime companies, as well as scaling existing ones.”
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