Paladin Capital Group announced the close of their Paladin Cyber Fund II at $372 million, exceeding their initial target of $250 million. Paladin’s Cyber Fund II is a multi-stage fund focusing on cybersecurity startups that bring innovative technologies to the market. Greenstone Equity Partners, the largest licensed fund placement firm in the Middle East, supported Paladin Capital Group in achieving this fund closure by raising capital from Greenstone’s network of GCC-based investors.
Cyber Fund II will focus on positioning capital across cybersecurity and online safety sectors, with an emphasis on advanced technologies that focus on protecting critical infrastructures from cyberattacks.
“At a time when cybersecurity could not be more important, Cyber Fund II is investing in digital solutions of absolute need to advance, sustain, and defend critical infrastructure and modern society,” said Michael Steed, Founder and Managing Partner of Paladin Capital Group. “The fact that the fund was able to exceed its initial target speaks to the trust our investors have in our ability to identify some of the world’s most promising and innovative companies. Paladin’s national security experience lends its partners an information advantage that can benefit the public and private sectors through transformative technologies, and this fund demonstrates that core power of our firm.”
Christopher Steed, Chief Investment Officer and Managing Director of Paladin Capital Group said “With each of our cyber funds, we continue to broaden our global reach and further expand our ability to identify cyber technologies of the future. By playing an active role at Board level, we are able to help founders and management teams introduce and scale much-needed security technologies in both the public and private sectors.”
Alex Gemici, Chief Executive Officer of Greenstone said, “We are proud to be working with innovative and advanced partners such as Paladin. Their focus on developing cutting-edge technologies to combat cyber threats addresses a critical need globally. Our GCC investors continue to be attracted to technology investments, and we look forward to growing our partnership with Paladin over the coming years.”
Brenda Chia, Director of Capital Development at Paladin Capital Group, added “We are appreciative that Greenstone is passionate about our vision, and we look forward to building long-term partnerships in the region. We thank our limited partners for their support of this fund and commitment to Paladin.”