Ten Eleven Ventures, a cyber-focused venture capital firm, closed its second fund, at $140M.
Among others, LPs in Ten Eleven Growth Fund II include KKR and Temasek, an investment company headquartered in Singapore. Ten Eleven will work with Temasek as the firm further expands its global investment strategy into several new geographic regions – including Southeast Asia. Already 50% of its portfolio has reached the point of scaling operations far enough to open Asian regional offices in Singapore.
TEG II will continue the firm’s strategy of investing in and supporting the best entrepreneurs focused on protecting both countries and companies digital assets and infrastructure. This fund builds upon the results of 2015 vintage TEG I that has invested in growth stage security businesses including Darktrace, Ionic Security, Ping Identity and Optiv.
Ping Identity, an identity defined security company, was sold to Vista Equity Partners in 2016 while Hexadite, an Israeli-based early player in security orchestration and automation market, was sold to Microsoft in 2017.
Led by Mark Hatfield and Alex Doll Founder, and newly added partner and COO Brian Draves, Ten Eleven now has $250m under management across three funds and invested in 15 portfolio companies in California, Massachusetts, Washington D.C., Colorado, Georgia, Texas and Oregon as well as internationally in the United Kingdom and Israel.
The firm has offices in Boston, MA, Burlingame, CA, and Boulder, CO.
FinSMEs
08/08/2018