Tel Aviv-based venture capital firm Merlin Ventures has announced the launch of its inaugural fund, exceeding $75 million, aimed at supporting early-stage Israeli cybersecurity
startups. The fund is backed by prominent industry figures, including founders of Talon Cybersecurity and Dig Security, both of which were acquired by Palo Alto Networks in 2023.
Established in 2021 as the venture capital arm of Merlin Group, Merlin Ventures focuses on facilitating U.S. public-sector engagement for its portfolio companies, leveraging expertise in federal programs like FedRAMP. Managing Partner Seth Spergel emphasized the strategy of investing early in innovative companies to prepare them for U.S. government contracts. Despite federal spending cuts, demand for third-party cybersecurity vendors remains robust, highlighting the sector's growth potential.
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