Blue Coat System’s acquisition of Solera Networks is the latest exit of a venture-backed security company, and a lucrative one, too. Allegis Capital, an early backer of Solera, expects a return of more than 10x on its first money. Trident Capital also is turning a tidy profit.
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Blue Coat Systems’ purchase of Solera Networks is not only good news for Allegis Capital, but also a healthy reminder of the major opportunity in building technology-based defenses against successful cyber attacks, writes Bob Ackerman, Allegis Capital founder and peHub guest columnist.
Allegis Capital has begun raising a special opportunities fund, according to a filing with the Securities and Exchange Commission. The firm did not offer a target size for Allegis Special Opportunities Fund or list which partners will be associated with it. The fund has not yet had a closing, the document states.
Guest blogger Bob Ackerman Jr. of Allegis Capital explains why venture investment in cybersecurity startups increased by 5 percent to $1 billion last year, while overall venture investments declined.
Private company valuations for security companies are up, but venture investors remain excited about putting to money to work. There is no secret why. Governments and corporations are under attack from cyber hacks, and IT budgets are being freed up for products and services to strengthened digital defenses.
Venture capital confidence in business conditions ahead retreated in the second quarter with Facebook’s bungled IPO casting a shadow over prospects for startup company liquidity, according to the Silicon Valley Venture Capital Confidence Index.
Despite the protests from the Kauffman Foundation and others about its demise, venture capital is very much alive. Having just returned from a trip abroad to talk to numerous investors, I am sensing a true tipping point in attitudes toward venture and in the appetite for investing
Alabama-based AvaLAN Wireless Systems, has raised over $700,000 in Series B financing led by the Huntsville Angel Network. AvaLAN is a growth-stage company developing secure industrial wireless technology. Further participation came from the Auburn Angel Network and private individual investors including Pete Bodine and Spencer Tall who are both managing directors at Allegis Capital in [...]
Santa Clara, Calif.-based PureWave Networks Inc., maker of 4G wireless base stations, has raised $5 million in Series C financing. Investors in the round were not named. The company said it would use the financing for continued development and commercialization of its new line of small cell LTE base stations. The company has previously raised [...]