Hurrah for London
Vauban Group, a London and Doha based cyber security solutions provider, announces the launch of a $100m investment vehicle, Vauban Cyber Security (VCS) has the aim to acquire and grow technology companies in the cyber security space in the UK and Qatar, and to build its position in the growing cyber security market.
A total of $70m will be used to invest in companies, targeting under $10m investments in businesses with established track records, management teams and certifications, with leading, cutting edge technology.
Cybercrime is projected to cost $1 trillion, annually, across the world, by 2019 and the average cost of a breach is now $7.7m. For most businesses it takes, on average, 46 days to respond to a breach, costing organisations in excess of $20,000 a day, resulting in massive business interruption. VCS also aims to deliver bespoke technologies to achieve best-in-class defence and protection for multinational companies and government organisations.
Mitch Scherr, CEO of Vauban Group, commented: “Cyber security is increasingly becoming a key consideration for businesses across the world, who are struggling to contend with the pervasive threat of cyber adversaries and those who wish to undermine business process. Businesses that don’t have the scale or infrastructure to protect themselves are increasingly at risk. We aim to invest in cutting edge and bespoke technologies to deliver the necessary strength and depth for businesses to protect themselves.”