Stephen Ross makes $30m bet on cyber security
Stephen Ross, the owner of the Miami Dolphins and developer of New York’s Hudson Yards, has made a $30m acquisition in the first step in a plan to build a brand that aims to demystify cyber security for small and mid-sized businesses.
The equity investment in Skout Secure Intelligence by RSE Ventures, the venture capital business Mr Ross runs with Matt Higgins, follows a year in which VC funding of cyber security companies grew by 40 per cent to a record $3.7bn, according to data from PwC and CB Insights.
“There’s a lot of money chasing deals in this space,” Mr Higgins acknowledged, describing the market as “frothy”. But RSE has pledged additional capital to fund further deals to help consolidate a fragmented market and expand Skout in the US, Europe and beyond.
Source: Financial Services