Paladin makes appointments for $300m European cyber fund

Mikkel Stern-Peltz
@msternpeltz
16 November 2015

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US venture firm Paladin Capital Group has appointed Alex O’Cinneide as managing director and head of Europe for its new €300m Europe-focused Cyber Fund.

Paladin's Cyber Fund began fundraising a year ago and is targeting $300m for early- and mid-stage investments in companies across the US and Europe within the cyber security sector. The vehicle's typical ticket size will be around $20m of equity.

The GP held a first close of slightly less than $70m earlier in September 2015, and expects to reach its target and final close by the summer of 2016.

A spokesperson for the VC told unquote" that Paladin has raised capital for its Cyber Fund from institutional investors, sovereign wealth funds, high-net-worth individuals and family offices from the US, Europe and Middle East.

O'Cinneide will head the fund as managing director based in London. Additionally, Paladin made three appointments to its strategic advisory group: Sir David Omand, the former UK security and intelligence coordinator, permanent secretary of the home office and director of GCHQ; Mary Aiken, director of the CyberPsychology Research Centre; and ex-Kleinwort Benson Bank CEO Sally Tennant.