Rain Capital has raised $10m for a new fund focused on early-stage cybersecurity companies in Silicon Valley.
The venture capital firm said it has initiated its launch by closing the first $10m of its $20m goal, with the second $10m closing expected later this year.
While its primary focus will be on early-stage cybersecurity companies, Rain Capital will also participate in later-stage funding rounds if the company is of strategic interest.
To date, the VC has backed three companies including Altitude Networks, a stealth company founded by the former CISO of Twitter and lead data scientist of Capital One.
Rain has also made investments in Capsule8, which provides real-time, zero-day attack detection capable of scaling to massive production deployments, and Claroty, which protects ICS networks from cyber-attacks.
“There has never been a more exciting time for cybersecurity,” said Wang, managing general partner of Rain Capital. “The awareness of cybersecurity is finally here; demand is heightened, and the urgency is palpable. What makes us different is that we have deep and direct connections to technology founders. We have daily conversations with some of the best technical talents in the security industry and are proactively working with them to found companies.”
Rain is headed by security technologist and female executive Dr. Chenxi Wang. As a long-time advocate of women in technology, the firm will look to promote women entrepreneurs and plans to boost funding to women-led companies.
“If you wait for pitches to come to you, you will not see a great number of women entrepreneurs. We are taking the proactive route. We are going out to find the best women entrepreneurs to lead companies,” added Wang.
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