People Moves
Cybersecurity VC Firm Adds Industry Heavyweight As Partner
A fund seeking to profit from demand for protections against hackers has added a senior figure from the cybersecurity world as a partner.
A venture capital firm focused entirely on backing cybersecurity businesses has brought in a former chief executive at a company in this space as a partner. Allegis Capital, based in northern California, has appointed David DeWalt, former CEO at FireEye.
Among other roles, DeWalt has been chief executive at cybersecurity big-hitter McFee, and held executive roles at EMC, Allegis said in a statement late last week.
DeWalt becomes the sixth cyber security executive serving as a
venture partner at the 21-year-old early stage venture firm.
Among other roles, DeWalt is a member or leader on boards
including those of
ForgeRock, a San Francisco-based multinational identity and
access management software company. He is also vice chairman of
ForeScout Technologies, a San Jose cybersecurity firm focused on
network-connected devices, and a board member of Five9, a leading
San Ramon-based provider of cloud contact center software.
Additionally, DeWalt is a director of Delta Air Lines.
As the example of this VC firm demonstrates, cybersecurity is not just a cost issue for organizations in the private and public sector but also an investment opportunity. And cybercrime is a major concern for wealth managers, given that their clients present a tempting target. (This publication recently held a fintech-themed conference in New York at which such matters were discussed. See here.)
The other cybersecurity-focused venture partners at Allegis Capital are: Nawaf Bitar, chief information officer, Citadel Securities; Tom Gillis, founder and CEO, Bracket Computing; Joe Levy, chief technology officer, Sophos; John Stewart, SVP and chief security and trust officer, Cisco Systems; Jeff Williams, former VP, worldwide sales and business development, FireEye.
The firm’s existing investments include Area 1, Bracket Computing, Cyber GRX, E8 Security, RedOwl, Signifyd, Synack, tCell.io and vArmour. Allegis is also a founding partner in Cyber Start-Up Studio, DataTribe, based in Columbia, Maryland.
