Cyberhedge, a company that calculates cyber risk in shareholder value terms for over 7000 global corporations, is pleased to announce the Luxembourg Future Fund (LFF) as a new investor. The LFF has been set up by the Société Nationale de Crédit et d’Investissement (SNCI) and the European Investment Fund (EIF), who acts as an advisor to LFF. EIF is a member of the European Investment Bank Group, the world’s largest multilateral lender.
The LFF, which focuses on investment opportunities aiming at supporting the diversification of the economy of Luxembourg, has selected Cyberhedge as one of its pioneering direct investments. The financing was part of a co-investment agreement with Paladin Capital (Paladin), a leading global cyber and technology focused private equity firm. Paladin is Cyberhedge’s lead investor.
Investment proceeds will help to reinforce the growing team of artificial intelligence, technology and financial experts in Cyberhedge’s R&D data science lab in Luxembourg, as well as the sales team. The company is headquartered in Luxembourg, EU, with offices in Washington DC, and New York.
“Cyber risk now impacts the value of company share prices and is an important topic both for company boards, as well as their largest investors, the global mutual fund asset managers”, says Cyberhedge Founder and CEO, Ryan Dodd. “Partnering with the LFF made sense as Luxembourg is a global hub for asset management as well as at the heart of EU decision making for financial risk and oversight. The EU is clearly the global leader on cyber regulations (i.e. GDPR), with the rest of the world following. We want to provide tools to company boards and their investors to help better protect against and budget for cyber risks, especially as the regulatory environment evolves.”
Paul Conley, a Managing Director at Paladin in Menlo Park, CA, and member of Cyberhedge Board of Directors commented: “We are delighted to partner with Cyberhedge to help address the huge unmet need in the board room for better tools to help quantify cyber risk in financial terms, and translate this in objective, actionable ways.”
EIF Chief Executive, Pier Luigi Gilibert said: “Our participation is essential for equipping Cyberhedge with the required resources to implement its European expansion plans and to help the Luxembourg Future Fund to reach out to the next generation of innovative businesses. We will continue to focus on similar investments both in Luxembourg and across the EU to enable the next generation of disruptors to grow.”
Patrick Nickels, Chairman of the Board of the LFF, added: “We are pleased to be supporting Cyberhedge, via the Luxembourg Future Fund, to create new opportunities in Luxembourg. We are excited about helping Cyberhedge to develop cyber risk management solutions, leading to the development of this sector in Europe.”