Cybersecurity-focused Forgepoint Capital seeks $400m for Fund II

Cybersecurity-focused VC Forgepoint Capital has returned to the fundraising market with intention of gathering $400m for its second fund.

The firm has yet to register any capital for Forgepoint Cybersecurity Fund II, as shown in a filing with the SEC.

Denning & Company has been listed as a placement agent for the fund in a number of US states.

Should it reach its fundraising goal, the Californian tech investor would surpass the $300m raised for its first fund in 2017, which it used to make 38 investments and 24 exits.

Forgepoint was initially eyeing $200m for Fund I, so Fund II could exceed its listed fundraising goal.

Forgepoint is focused on early-stage cybersecurity companies and has backed several start-ups such as 4iQ, Attivo, Appthority, Bayshore Networks, BehavioSec, CyberCube Analytics, ID Experts, IronNet Cybersecurity, Prevoty, and ReversingLabs.

The venture capital firm typically invests $5m and $30m per company in Series A, Series B and growth equity investment rounds.

The firm launched in 1998 and went on to change its name from Trident Capital Cybersecurity in May last year.

Forgepoint would also appoint Myrna Soto as a partner in April 2018, after almost 10 years at US telecommunication giant Comcast Corp.

Last year, RegTech 100 company BehavioSec, which uses behavioural biometrics to verify and confirm a user’s identity, raised a $17.5m in a Forgepoint-led round.

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