Netherlands-based venture capital firm TIIN Capital announced that it has completed the first closing of its fifth Tech Fund, the European Cyber Tech Fund V, with a targeted size of €100M.
Positioned to invest in European cybersecurity scale-ups, the Dutch VC firm aims to foster international growth and expansion of European cybersecurity enterprises. The firm’s aim is to develop and promote ‘made in Europe’ cybersecurity solutions and products.
Investors supporting the new fund
The initial closing of the European Cyber Tech Fund V by TIIN Capital attracted interest from single-family offices and notable entrepreneurs, such as Ronald Prins and Menno van der Marel, co-founders of Fox-IT, a major global cybersecurity player.
The fund’s final closing is anticipated in the first half of 2024.
Michael Lucassen, Managing Partner at TIIN Capital says, “We are pleased that the group of investors who joined the first closing is fully committed to our strategy and our way of working. It is of great significance for us that loyal investors from previous funds as well as new fund investors showed their confidence by participating in the fund.”
To back 12 cybersecurity companies
The European Cyber Tech Fund V has already invested in a Dutch-based company. This company specialises in providing governments and organisations globally with an AI-powered intelligence platform (OSINT) for national and economic security.
The initial investment reflects the fund’s short-term ambition, intending to invest in about 12 “promising and upscaling” European cybersecurity companies in the coming years.
Reinout vander Meûlen, Partner at TIIN Capital says, “We are focused on building a strong and cybersecure Europe, with the best ‘made in Europe’ cybersecurity solutions, with ambitious and balanced teams, who will benefit from our experience in scaling internationally, our network and expertise.”
European cybersecurity investors
The Informal Investors Network (TIIN) Capital, was founded in 1998. In 2018, the firm strategically pivoted its investment focus from ‘general tech’ to ‘cyber tech’ with the launch of the Dutch Security TechFund.
TIIN Capital’s network of cybersecurity specialists, including CISOs, IT security professionals, corporates, governments, and successful entrepreneurs, has grown across Europe.
This network not only helps in fund management by facilitating knowledge exchange, scaling experiences, and expanding networks but also provides benefits to portfolio companies.
The firm has collaborated in various European countries and some of its successful investments include Eye Security, EclecticIQ, BreachLock, EGERIE, Probely, Syntho.ai, and Sygno.
The Dutch Security Tech Fund, the predecessor fund of the European Cyber Tech Fund V, invested in 18 cybersecurity companies and exited four successfully.