Cleo Capital, an early-stage venture fund that has invested in companies like Groq AI, fintech Ellevest and fashion house Hill House, has announced the launch of a new cybersecurity strategy.
The program targets pre-seed and seed companies from around the world and is a 12-week remote program offering a $250,000 investment for 7% equity. Up to ten companies will be selected.
See also: Vulnerability in Atlassian Sourcetree allows code execution
Cleo Capital founder and CEO Sarah Kunst said she was inspired to create the accelerator by the rise of fraud in sectors like cryptocurrency and fintech, as well as dating apps like Bumble. Cyber threats are becoming increasingly costly, especially with the advancement of AI. In 2023, Americans lost over $12.5 billion to cybercrime.
Kunst rejects the notion that only businesses can excel in cybersecurity, noting that 90% of Americans face cybersecurity issues. This is an opportunity not to be missed. She is currently looking for companies in the consumer, defense, and development tools sectors.
Read more: LightSpy Spyware feature expands to Windows
The deadline for participation in the accelerator is January 20, with a start date of February 24. Kunst emphasizes the importance of online security and privacy, highlighting the need for an internet that inspires trust and security.
Source: techcrunch
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