Sequoia Capital Israel GP Raanan forms Cyberstarts VC, raises $54 mln

Sequoia Capital Israel General Partner Gili Raanan has formed a new venture firm, Cyberstarts VC, and raised $54 million for a maiden venture fund, according to a news report from Reuters and a filing with the SEC.

The fund will target investments in 10 cybersecurity companies.

“We are interested specifically in investing in cybersecurity companies that are just setting out and have not yet raised any meaningful investment,” Raanan told Reuters.

Investors in the fund include Check Point Software co-founders Shlomo Kramer and Marius Nacht; Imperva co-founder Amichai Shulman; Trusteer co-founders Mickey Boodaei and Rakesh Loonkar; Palo Alto Networks founder Nir Zuk; and Assaf Rappaport, a founder of Adallom.

Sequoia also is an investor in the fund, which attracted 56 LPs.

The fund recruited 10 U.S.-based chief information security officers to support decision making and aid portfolio companies.

Raanan will continue to manage Sequoia’s portfolio in Israel.

The filing can be found here.