Top Cybersecurity Investors
Evolution Equity Partners leads at roughly $2 billion of dedicated cyber AUM — though the sector's defining number belongs to Cyberstarts, whose seed check into Wiz returned about 200x.
Largest dedicated manager: Evolution Equity (~$2B) · Cyberstarts' Wiz seed: ~200x return · 2025 cyber vendor funding: ~$14B, up 47%
A cybersecurity investor commits dedicated capital to the vendors defending digital systems — and the sector just produced venture's most quotable outcome. Cyberstarts' seed position in Wiz returned roughly 200x as the company rode into Google's $32 billion acquisition. Ranked by cyber-dedicated capital, Evolution Equity Partners leads at about $2 billion after closing the $1.1 billion Evolution Technology Fund III in 2024, the largest dedicated cyber fund at the time, with Arctic Wolf, Snyk, and SecurityScorecard in the portfolio. Paladin Capital Group, the Washington national-security specialist, follows at more than $1.5 billion committed, and Cyberstarts itself ranks third at over $1.4 billion after raising $700 million-plus in 2025 alone, including a $380 million second Opportunity Fund. That a seed firm this small minted the sector's biggest win says a lot about how cyber returns are made.
Israel is the gravitational center. Israeli cybersecurity companies raised a record $4.4 billion across 130 rounds in 2025, per YL Ventures' State of the Cyber Nation, and Israeli firms fill the specialist tier: Glilot Capital raised $500 million in 2025 to reach $1.3 billion in total capital, Team8 pushed past $1 billion in AUM after $500 million of new funds, and YL Ventures runs $800 million across five funds with seed unicorns Axonius and Orca Security. The US bench is built differently, around operators and buyers rather than repeat founders — SYN Ventures was founded by former Fortune 500 CISOs, Ten Eleven Ventures pioneered pure-play cyber investing, and Ballistic Ventures co-builds companies, closing an oversubscribed $360 million Fund II in 2024. Generalists Insight Partners, Accel, and Sequoia appear for deal leadership; Insight alone has put more than $5 billion into 75-plus cyber companies since 2014.
The funding backdrop broke records. Cybersecurity vendors raised nearly $14 billion across roughly 393 rounds in 2025, up 47% from $9.5 billion in 2024 and the strongest year since the 2021 peak, per Pinpoint Search Group. The first quarter of 2026 added another $4.62 billion across 128 rounds, keeping pace with the record year. Demand is structural: global cybercrime costs were projected at $10.5 trillion for 2025, rising toward $12 trillion by 2031, and worldwide spending on security products and services is projected to reach $522 billion in 2026, double its 2021 level of $260 billion. Breach costs are rising faster than security budgets, and investment capital keeps following that gap. Every firm on this list links to a live Altss profile with leadership, funds, and activity.
Top Cybersecurity Investors: by the numbers
- Evolution Equity Partners closed the $1.1 billion Evolution Technology Fund III in 2024, the largest dedicated cyber fund at the time, per the firm's announcement.
- Cyberstarts raised more than $700 million in 2025, including a $380 million second Opportunity Fund, taking total commitments past $1.4 billion, per the firm.
- Global cybersecurity vendor funding reached nearly $14 billion across roughly 393 rounds in 2025, up 47% from 2024, per Pinpoint Search Group.
- Israeli cybersecurity funding hit a record $4.4 billion across 130 rounds in 2025, per YL Ventures' State of the Cyber Nation.
- Q1 2026 brought $4.62 billion of cybersecurity funding across 128 rounds, per Pinpoint Search Group.
- Global spending on cybersecurity products and services is projected to reach $522 billion in 2026, up from $260 billion in 2021, per Cybersecurity Ventures.
Top Cybersecurity Investors
mid-2026 (sourced from 2024-2026 firm disclosures, fund closes, and 2025-2026 market reports)
Ordered by cyber-dedicated capital — AUM or total commitments — for pure-play and specialist firms, with cyber-heavy generalists ranked further down on deal leadership and portfolio scale rather than their much larger firm-wide assets.
| # | Firm | Scale | Headquarters |
|---|---|---|---|
| 1 | Evolution Equity PartnersDedicated multi-stage investor in cybersecurity and AI software; closed the $1.1B Evolution Technology Fund III in 2024, the largest dedicated cyber fund at the time. Portfolio includes Arctic Wolf, Snyk, SecurityScorecard, Pentera, and Quantexa. | ~$2B AUM | New York, USA |
| 2 | Paladin Capital GroupMulti-stage investor in cyber, secure AI, and deep tech with a national-security focus; Cyber Fund II closed at $372M, and the firm reports more than $1.5B committed across 65+ investments. | >$1.5B committed capital | Washington, D.C., USA |
| 3 | CyberstartsCyber-native seed-to-breakout specialist whose seed position in Wiz returned roughly 200x; closed a $380M second Opportunity Fund and raised $700M+ in 2025 alone. Portfolio includes Island, Fireblocks, and Cyera. | >$1.4B total capital commitments | Mikhmoret / Tel Aviv, Israel (NY presence) |
| 4 | Glilot Capital PartnersEarly-stage cyber VC across seed to Series B, since expanded into AI and enterprise software; raised $500M in 2025, taking total raised to $1.3B, and claims 23+ exits. | ~$1.3B raised / >$1B AUM | Tel Aviv, Israel |
| 5 | Ten Eleven VenturesThe original multi-stage pure-play cyber VC; its $600M third fund took AUM past $1B, and its 60+ investments include KnowBe4, Darktrace, and Ping Identity, with recent leads in quantum and AI security. | >$1B AUM | San Francisco / Burlingame, USA |
| 6 | Forgepoint CapitalEarly-stage specialist in cybersecurity and infrastructure software with one of the sector's largest dedicated teams; $1B+ in AUM, a closed Fund III, and a strategic alliance with Santander. | $1B+ AUM | San Mateo, USA (London office) |
| 7 | Team8Venture-creation firm with cyber roots, since expanded into data, AI, fintech, and digital health; $500M of new funds in 2024 pushed AUM past $1B, with roughly $2B of historical exits. | >$1B AUM | Tel Aviv, Israel (New York office) |
| 8 | SYN VenturesPure-play cyber VC founded and led by former Fortune 500 CISOs; runs a flagship strategy plus a $75M seed fund — the largest US cyber seed fund at launch — after $165M and $300M predecessors. | $900M AUM | West Palm Beach, USA |
| 9 | YL VenturesExclusively cybersecurity, seed to scale, with five funds totaling $800M; seeded unicorns Axonius, Orca Security, and Twistlock, with TIME recognition among industry honors, and publishes the State of the Cyber Nation report. | $800M AUM | Tel Aviv, Israel / Silicon Valley, USA |
| 10 | NightDragonLate-stage and growth specialist across cybersecurity, safety, security, and privacy; Growth I closed above $750M, backing a platform model that pairs capital with operating influence. | ~$750-760M (Growth I) | San Francisco, USA |
| 11 | Ballistic VenturesPure early-stage cyber VC with an incubation and co-build model; closed an oversubscribed $360M Fund II in 2024, has collected Investor of the Year honors, and sold portfolio company Talon to Palo Alto Networks. | ~$660M+ ($300M Fund I + $360M Fund II; +$100M raising) | San Francisco, USA |
| 12 | Insight PartnersSoftware growth investor with a cyber-heavy book: $5B+ invested across 75+ cyber companies since 2014, including SentinelOne, Recorded Future, Wiz, and Armis. A multi-sector firm, ranked here on deal leadership. | $5B+ cyber investments (total AUM ~$90B) | New York, USA |
| 13 | AccelGeneralist multi-stage firm with a deep cyber record — CrowdStrike, Sumo Logic, and more recently Cyera — plus a $650M Europe and Israel fund focused on AI and cyber. Ranked on cyber activity, not dedicated capital. | Total AUM multi-$B (~$8-20B est. range; cyber-heavy activity) | Palo Alto, USA / London |
| 14 | Sequoia CapitalElite generalist with generational cyber outcomes: early in Palo Alto Networks, and a seed-stage Wiz position that rode into Google's $32B acquisition. Ranked on deal leadership rather than dedicated cyber capital. | Total AUM ~$56B (cyber outcomes standout) | Menlo Park, USA |
| 15 | AllegisCyber CapitalOne of the original pure cyber-focused VCs, investing at seed and early stage over a long operating history; a Special Opportunities fund is open, though recent public AUM disclosure is limited. | Multi-fund (e.g. ~$227M prior dedicated; total est. hundreds of $M) | Palo Alto, USA |
| 16 | DataTribeCyber startup foundry turning government-trained founders into commercial companies; closed its $41M third fund in 2025 and co-builds toward generational cyber leaps. | ~$100M+ total (Fund III $41M) | Fulton / DC area, USA |
Figures mix dedicated AUM, total commitments, and cumulative investment, and some represent total raised rather than current assets. Ten Eleven's and NightDragon's headline figures date to pre-2023 closes, and AllegisCyber's recent disclosure is limited, so those carry less certainty. Insight Partners, Accel, and Sequoia are multi-sector firms included for cyber deal leadership, not dedicated capital. Dry powder, deployment pace, and exact 2026 updates are not uniformly public; estimates are noted in the table.
How we rank — dedicated funds first
Pure-play and specialist firms are ordered by cyber-dedicated AUM or total capital commitments. Generalists with heavy cyber activity — Insight, Accel, Sequoia — enter lower, on deal leadership and portfolio scale, because their firm-wide assets say little about their cyber commitment.
Sector-focused rather than sector-sized is the test: a $2 billion dedicated manager outranks a $90 billion generalist here. Figures draw on 2024-2026 fund closes, firm disclosures, and market reports.
Top Cybersecurity Investors — common questions
What was Cyberstarts' return on Wiz?
What is the largest dedicated cybersecurity fund?
Why is Israel so prominent in cybersecurity investing?
How much did cybersecurity companies raise in 2025?
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