Security firm Trend Micro has become the latest corporate to jump into the startup investment sector with the launch of its new venture capital fund.
The company has announced a $100 million venture fund today. With this fund, it is looking at opportunities in the internet-of-things (IoT) space.
The venture fund aims to nurture a portfolio of startups in emerging ecosystems. The startups can be in domains that are incubating ideas and living at the epicenter of hyper growth markets.
Eva Chen, founder, and CEO of Trend Micro, said,
Trend Micro’s vision has always been to make the world safe for exchanging digital information. The explosion of devices is transforming how the world works, thinks, and acts. It is clear that the ecosystem is still evolving and there is work to do to ensure organisations and individuals can operate and live safely in this new reality.
Along with funding, the startups will also get access to Trend Micro’s global threat intelligence, strategic alliances, as well as 28,000 channel partners.
With this, the company aims “to dive into new areas without disrupting core business resources.” It is looking to make around 15-20 investments per year.
According to Trend Micro’s President and Chief Operating Officer Wael Mohamed, there are already “several” deals in the pipeline, but he has not provided any specific details.
The fund is an “initial” $100 million, implying that it the amount can be increased or topped up after sometime. The company believes that the next wave has arrived with IoT and the fund will help the company in harnessing the opportunity.
Trend Micro was founded in the year 1988, and is currently present in 50 countries – including regional headquarters in Asia, Europe and the Americas. It has a staff of over 5,000 people, and is best known for IT security products that include threat detection and antivirus.