Cisco Systems announced at a cybersecurity conference in Israel that it would invest in JVP’s fund, which is expected to close at $120 million in the next few months.
Cisco did not disclose how much it would invest, but half of the fund is designated for investments in cybersecurity. Last year, the venture firm launched an incubator focused on cybersecurity called the JVP Cyber Labs Incubator.
Interest in investing in startups focused on cybersecurity is growing, as the worldwide market is expected to grow to more than $120 billion in three years, according to a report released in October by Marketsandmarkets.
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