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SYN Ventures Closes $300M Fund II for Cybersecurity Investments

May 31, 2022

SYN Ventures, the only VC firm founded and led exclusively by former Fortune 500 CISOs and C-level security leaders, closed its $300M Fund II. The closing comes less than 12 months since the launch of its debut fund and continues the firm’s focus on early-stage cybersecurity, industrial security, national defense, privacy, regulatory compliance, and data governance start-ups.

In addition to the closing of Fund II, the firm announced that co-founder and former Chief Scientist of Cylance, Ryan Permeh, has joined full time as an Operating Partner.

“As cybersecurity has come to the forefront of every human on the planet, the pace of innovation is exploding for both our industry and adversaries,” said Jay Leek, Managing Partner at SYN Ventures. “Adding Ryan, one of the most successful and connected entrepreneurs in our industry, to our team is incredible validation of our investment thesis and mission of protecting all companies big or small, the United States and our allies.”

SYN investments include Adlumin, Boldend, Halcyon, Metabase Q, Netography, Pangea, Phosphorus, Query.ai, SecZetta, Sevco Security, ShiftLeft, SynSaber, TrackerDetect, Revelstoke, Transmit Security, and others. The team combines over 100 years of operational security experience with investing acumen and a trusted network of dozens of CISOs that actively help entrepreneurs accelerate the growth of their companies to better protect against the ever-evolving threat landscape. Some of the firm’s CISO advisors include Cradlepoint CISO, Ben Carr; Chipotle CISO, Dave Estlick; Vista Equity Partners Managing Director and CISO, Adrian Peters; USAA CSO, Jason Witty, and more.

“Joining Jay, Patrick and the SYN team is an exciting next chapter in my career. After decades in executive leadership roles starting at McAfee, I’ve been blessed to work with the people and technologies that have been instrumental in the emergence of cybersecurity as an industry,” said Permeh. “As an entrepreneur, I couldn’t have done what I did without fantastic venture partners, including Jay and Patrick, to bring my vision to life and scale a company to become one of the first unicorns in the industry. Security is in my blood, and I’m excited to share my experience and expertise to help the next generation of entrepreneurs disrupt the industry and evolve the fabric of security.”

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