Trident Capital Cybersecurity raises $300 mln security fund

Trident Capital Cybersecurity said it raised an oversubscribed $300 million fund, likely the largest venture fund dedicated solely to security. The fund, 50 percent more than initially targeted, will enable the firm to expand its support of companies well beyond early rounds.

The fund is the firm’s first since it spun out of Trident Capital in mid-2015 and will be run by Managing Directors Alberto Yépez, Don Dixon and Sean Cunningham.

Initially, Trident Capital Cybersecurity had sought $200 million, but increased its size at the urging of LPs, who wanted the firm to have a larger impact on its portfolio companies, Yépez said.