Cyber security firm Trend Micro announces $100 million venture fund

6 Jul

By Jeet Suthar,  The Tech Portal

Cyber security firm Trend Micro has become the latest corporate to jump into the startup investment world. The company has announced a $100 million corporate fund on June 28. It is looking at opportunities in the internet-of-things (IoT) space.

The venture fund aims to nurture a portfolio of startups in emerging ecosystems. The startups can be in domains that are incubating ideas and living at the epicenter of hyper growth markets

Eva Chen, founder, and CEO of Trend Micro, said,

Trend Micro’s vision has always been to make the world safe for exchanging digital information. The explosion of devices is transforming how the world works, thinks, and acts. It is clear that the ecosystem is still evolving and there is work to do to ensure organisations and individuals can operate and live safely in this new reality.

Besides funding, the startups will also get access to Trend Micro’s global threat intelligence, strategic alliances, as well as 28,000 channel partners. The idea behind this, in the company’s own words, is “to dive into new areas without disrupting core business resources.”

With the fund, it is looking at making 15-20 investments per year, with no particular focus on location. According to President and Chief Operating Officer Wael Mohamed, there are already “several” deals in the pipeline.

The fund is an initial $100 million, implying that it could be increased or be topped up later. It is hoping to appeal startups by giving them an avenue into its experience, products and a network.

Trend Micro was founded in the year 1988, and is currently present in 50 countries – including regional headquarters in Asia, Europe and the Americas. It has a staff of over 5,000 people, and is best known for IT security products that include threat detection and antivirus.

In a statement, the company boasts a strong financial position with 72 quarters of consecutive profitability. Chen stated that the company earlier tapped on the growth of the PC marketplace and is now bidding on the cloud.