3Lines Venture Capital closes first $5m trance of its Rocket Fund

3Lines Venture Capital has closed the first $5m trance for its Rocket Fund, which is focused on cybersecurity and deep-tech opportunities.

The Denver-based investor is looking to raise a total of $30m for the vehicle.

Funds will be used to back early-stage deep-tech companies working on cybersecurity, AI, IoT, next-gen SaaS, virtualization platforms and services. It will seek opportunities disrupting these sectors and have a good product-market fit.

As well as capital, 3Lines offers its portfolio access to a deep network of operating experts, it claims.

This is the firm’s second vehicle having previously closed Fund-1, which offers a low-barrier-to-entry for limited partners. Its portfolio now comprises of 12 early-stage companies based in the US, India and Australia.

Its portfolio includes privilege management platform OverWatch ID which enables to only supplies access to IT infrastructure, cloud computing environments, and cloud applications for those with necessary credentials.

Other companies include code education service Bitsbox, background check platform Vetty, and B2B customer data platform for marketing analytics CaliberMind.

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