Technology executive Dave DeWalt has joined early-stage cyber-security venture capital firm Allegis Capital as a managing director, the fund said on Thursday, as it looks to invest more in companies closer to going public.
(Reuters) – Technology executive Dave DeWalt has joined early-stage cyber-security venture capital firm Allegis Capital as a managing director, the fund said on Thursday, as it looks to invest more in companies closer to going public.
With the appointment DeWalt, a former CEO of FireEye Inc (FEYE.O) and McAfee before it was acquired by Intel Corp (INTC.O), is moving directly into the world of venture capital after years of running companies.
&ldquo-His experience, and the networks that come with it, will be a tremendous asset to our firm and our portfolio companies as they grow from solution innovators to market leaders,&rdquo- Allegis founder Bob Ackerman said in a statement.
Allegis is looking to raise between $200 million and $400 million to invest in series C funding rounds, a source with knowledge of the plans said. Such rounds typically involve the last private cash injected into a company before it goes public.
San Francisco-based Allegis also said it would change its name to AllegisCyber and open an office in the Washington area to tap into the region&rsquo-s high density of cyber engineers and robust investment opportunities.
Allegis said that DeWalt had previously consulted on several investments, including a stake they took in Callsign, where DeWalt sits on the board.
DeWalt has this year joined the boards of a string of cyber security companies including ForgeRock, Optiv, Phantom and Claroty. He has sat on the board of Delta Air Lines Inc (DAL.N) since late 2011.
Allegis&rsquo- existing cyber security investments include Area 1, Bracket Computing, CyberGRX, E8 Security, Shape Security, Signifyd, Synack, tCell.io and vArmour.
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