Romania-headquartered cybersecurity company Bitdefender is launching a venture division to invest in early-stage cyber and AI startups.
Bitdefender Voyager Ventures (BVV) will back startups at the seed or Series A stage, acting as either a lead or co-investor.
A representative for Bitdefender told UKTN that BVV will have a “global mandate but with an emphasis on Europe”, including the UK.
The evergreen corporate venture capital initiative will make equity and other types of investments of between €500,000 and €2m per funding round.
The Bitdefender spokesperson added “there is flexibility” in the specific amount, depending on the “startup’s development stage, their funding needs, the potential for strategic alignment, and the projected growth trajectory”.
Capital for the fund will come from Bitdefender’s balance sheet.
“By utilising our own existing cash reserves rather than relying on third-party funding sources, we retain greater flexibility and control over our investment strategy, ensuring that we can best support the goals and needs of BVV portfolio companies,” the Bitdefender representative said.
BVV isn’t targeting a specific number of startups to back. Instead, the evergreen fund will make continuous investments, aiming to support a “handful of startups that demonstrate strong potential in cybersecurity, data analytics, automation, and AI” this year.
Founded in 2001, Bitdefender provides cybersecurity tools – such as threat detection and response – to businesses and consumers. The company says it has “millions” of customers in over 170 countries.
Florin Talpes, co-founder and CEO of Bitdefender, said: “In a period marked by rapid advancements and new challenges in cybersecurity, Bitdefender Voyager Ventures represents our company’s deep commitment to innovation and to supporting exceptional entrepreneurial talent in Europe and around the globe.”
Talpes added: “Our deep experience in building a leading global cyber security business uniquely positions us to help founders develop the next wave of innovative solutions and bring them to market.”
The post Bitdefender launches venture unit to back cyber startups appeared first on UKTN.
