Parisian asset management group Tikehau Capital has announced the first close of a new private equity cybersecurity-focused vehicle at €200 million. According to the firm, this first close represents the largest vehicle of its type dedicated to digital security in Europe.
Tikehau will use the vehicle to focus on European opportunities and supporting companies with what it deems to have significant B2B scaling potential on a global scale and will offer ticket sizes ranging between €10 million to €50 million, including reinvestments.
The news of Tikehau’s commitment to cybersecurity is both timely and needed. While not a European company, the ripple effects of the hack of identity management solutions provider Okta are continuing to be felt.
The company confirmed the hack on Friday, but not before a series of cybercriminals crippled casinos in Las Vegas, and 1Password and Cloudflare being targeted. As a result, the company has lost $2 billion in market cap since, with shares down 15.6 percent in the last five days.
And this is just one example of a daily and growing onslaught of cybersecurity attacks.
On the renewed commitment to its devoted cybersecurity strategy, Tikehau Capital’s Marwan Lahoud commented:
“Our primary focus remains on European investments, while keeping a watchful eye on opportunities beyond the continent. Our commitment to digital security goes beyond financial investment.
“We aim to be at the forefront of innovation in the cybersecurity sector. As an active investor, we want to be close to managers and help them develop their business through Tikehau Capital’s international network.”
Lead image: Photo by Scott Rodgerson