He arrested a hacker, then spent 18 months clearing his own name. Now he’s a cybersecurity VC.
Stephen Ward, a former Secret Service agent and Home Depot CISO, is preparing a second fund of roughly $250 million for Brightmind Partners.
Stephen Ward, co-founder of Brightmind Partners, a two-year-old cybersecurity fund in New York, is known for his straightforward approach to exits in venture capital. Unlike most venture capitalists who believe every portfolio company is headed for an IPO, Ward says, "You have to sell on the way up." His firm's debut fund of $250 million, closed with co-founder Gur Talpaz, is a testament to his pragmatic approach.
Before venturing into investments, Ward served in the Coast Guard, worked for the Secret Service, and held CISO positions at TIAA and Home Depot. His path to venture capital was not without challenges. He spent 18 months clearing his name after arresting a hacker, which eventually led to his arrest. Once cleared, he went on to build a successful career in investment banking, transitioned to cybersecurity, and now runs Brightmind Partners.
The firm is raising its second fund, targeting a size similar to the first one, at a time when early-stage cybersecurity startups are raising more money than later-stage competitors for the first time in over a decade.
Written by urgent.news from TechCrunch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
