The Dutch venture capital firm TIIN Capital has successfully achieved the first closing of its fifth Tech Fund, named European Cyber Tech Fund V, aiming for a total fund size of €100M.
Focusing on investment in European cybersecurity scale-ups, TIIN Capital seeks to support the international growth and development of European cybersecurity businesses. The firm is dedicated to nurturing and advancing cybersecurity solutions and products that are ‘made in Europe’.
Backers Rally Behind New Investment Fund
TIIN Capital’s European Cyber Tech Fund V has garnered attention in its initial closing from single-family offices and prominent entrepreneurs. Among them are Ronald Prins and Menno van der Marel, founders of the globally recognized cybersecurity firm Fox-IT.
The fund is expected to reach its final closing in the first half of 2024.
Michael Lucassen, Managing Partner at TIIN Capital, comments: “We are gratified by the commitment of the investors who participated in the first closing, aligning with our strategic approach and operational style. The participation of both long-standing investors from our previous funds and new backers in this fund is a significant show of confidence in our venture.”
Supporting 12 Cybersecurity Firms
The European Cyber Tech Fund V has already made an investment in a Netherlands-based enterprise. This company specializes in offering AI-driven intelligence platforms (OSINT) to governments and organizations worldwide, focusing on national and economic security.
This initial funding aligns with the fund’s near-term goal of investing in approximately 12 “promising and scaling” European cybersecurity companies over the next few years.
Reinout Vander Meûlen, a Partner at TIIN Capital, remarks, “Our aim is to foster a robust and cyber-secure Europe by supporting the finest cybersecurity solutions developed in Europe. We look for teams that are ambitious and well-balanced, who will gain from our international scaling experience, as well as our extensive network and know-how.”
Investors in European Cybersecurity Sector
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.