Osney Capital, a UK-headquartered venture capital firm, has closed its debut fund at over £50 million (approx. $92 million CAD) to back early-stage cybersecurity startups across the UK and Canada. This makes it the only VC firm focused exclusively on seed-stage cybersecurity ventures in both countries.
The fund is supported by cornerstone LP British Business Bank, alongside IronGate Capital Advisors (US), East X Ventures (UK), several exited cybersecurity founders, and undisclosed Canadian family offices.
Bridging Cybersecurity Innovation Between Canada and the UK
With a cross-Atlantic strategy, Osney is looking to:
- Help UK startups expand into North America through Canada
- Assist Canadian startups in entering the UK and European markets
To support this vision, Osney Capital has established a Calgary office, led by partner Adam Cragg, former executive director of Innovate Calgary and founding partner at Quake Capital.
“In cybersecurity, trust is paramount, and the longstanding relationship between the UK and Canada provides a strong foundation,” said Cragg.
He highlighted Canada’s strengths in AI, quantum computing, and data infrastructure, making it a ripe environment for next-gen cybersecurity innovation.
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Strategy, Track Record, and Expansion Plans
Founded by Cragg, Josh Walter, and Paul Wilkes, Osney Capital is accredited by the UK’s National Security Investment Fund and brings deep expertise in tech, law, and venture investment.
Before launching the fund, Osney made six angel-stage investments in UK-based cybersecurity companies to test its thesis. Its portfolio includes:
- Sitehop (Sheffield)
- Onsecurity (Bristol)
- Esprofiler (Manchester)
- Mindgard, RevEng, and Seedata (London)
With the new fund, Osney Capital plans to invest in 30 companies, writing first checks between £250K and £2.5M, and supporting follow-ons through Series A. While the firm has yet to set a specific Canadian allocation, Cragg confirmed intentions to expand the Canadian team and ramp up domestic deal flow.
A Timely Opportunity in Cybersecurity
Amid rising global tensions and increased focus on digital infrastructure security, Osney sees cybersecurity as an essential pillar for protecting economic and democratic systems.
“We’re at a tipping point. Cybersecurity isn’t just a tech play anymore—it’s foundational to safeguarding our way of life,” said Cragg.
As the cybersecurity landscape evolves, Osney aims to fill a gap in the Canadian VC ecosystem by offering focused capital and deep sector expertise—at a time when many generalist funds are tightening their belts.
