The bank and US venture capital firm are setting up a new management firm to invest in cybersecurity companies emerging mainly in Europe and Latin America.
Santander is expected to invest up to 300 million euros in initiatives related to this partnership.
Madrid, October 19, 2022.
Banco Santander, one of the world’s largest banks with more than 157 million customers, and Forgepoint Capital, one of the world’s leading venture capital firms focused on cybersecurity, today announced a strategic alliance to drive investment and innovation in cybersecurity globally.
The alliance is based on three initiatives: (1) the creation of Forgepoint Capital International (FPCI), a new venture capital management firm to invest in emerging cybersecurity companies primarily in Europe, Latin America and Israel, (2) Santander’s participation in Forgepoint’s Next North US fund , the third since its inception in 2015, and (3) a selective co-investment program. In all, these three initiatives could amount to an investment by Santander of up to 300 million euros.
FPCI’s goal is to launch the first fund in 2023 that will be open to integrating both institutional and private investors, and where Santander is expected to act as the fund’s lead investor. Together, Santander, Forgepoint and FPCI will identify market gaps and investment opportunities in high-potential geographies, then accelerate the growth and development of portfolio companies as they solve global business challenges.
The establishment of the FPCI follows the bank’s strategy to strengthen the investment platform unit. Led by Nathan Bostock and Javier García Carranza, this unit already includes investment platforms that specialize in other types of additional financing for the bank’s traditional activities, such as private equity, venture capital and venture capital.
Santander considers cybersecurity to be essential to its purpose of helping individuals and businesses thrive. According to Banco Santander, Global Head of Information Security (CISO), Daniel Barrioso“Investing in cybersecurity companies, technology and people is at the core of our mission to generate value and trust for society and help create a safer ecosystem. We are pleased about the partnership through this alliance and the formation of Forgepoint Capital International.“
“Just as cybercriminals operate globally, cybersecurity innovation knows no boundaries – the opportunities are limitless,” He said Alberto Ypez, co-founder and managing director of Forgepoint Capital. “This expansion represents the next logical step in Forgepoint’s evolution as a leading venture capital platform investing in cybersecurity and infrastructure programs. We are proud and excited to partner with Santander to invest in and develop the world’s most promising cybersecurity companies, to help ensure prosperity and economic growth.. ”
Originally published at San Jose News Bulletin
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