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Venture firm Trident Capital raises $300 million for cyber security startups:

https://www.yahoo.com/news/venture-firm-trident-capital-raises-300-million-cyber-135003541--sector.html?ref=gs



By Heather Somerville

SAN FRANCISCO (Reuters) -" Silicon Valley venture firm Trident Capital Cybersecurity said on Wednesday it had raised $300 million for a fund to invest in cyber security startups - a sign of the growing importance of securing computer systems amid concerns over state-sponsored hacks.

The fund is one of the largest in the venture community dedicated to cyber security. The $300 million sum is double what Trident Capital had set out to raise, an indication that investors see cyber security as not only crucial but also lucrative.

The market for cyber security products and services was $81.6 billion in 2016 and will grow by 10 percent annually until 2021, according to research firm Gartner.

Trident previously had invested across industries with past investments including home rental site HomeAway and travel search site Kayak. The new fund will focus exclusively on cyber security deals, said Don Dixon, co-founder and managing director of the Trident fund.

While many venture capitalists have taken an interest in cyber security, few firms are exclusively dedicated to the industry. Trident will make about eight investments each year for the next few years, Dixon said, choosing from among about 400 cyber security companies raising early-stage financing rounds."