LONDON--(BUSINESS WIRE)--ABI will seek out early stage innovative cyber security technology and provide seed investment to productise and commercialise the most promising new innovations in network defence and online security.
Cyber attacks remain an almost daily occurrence and the increasing sophistication of attackers makes the threat of a data breach for all enterprises, whether public or private, omnipresent. Bank of America Merrill Lynch have recently estimated that within 20 years there will be in excess of 1 trillion internet connected devices. Each device represents a potential attack vector for cyber criminals.
It is crucial therefore that the cyber security industry responds to the increasingly complex and dynamic threats to critical infrastructure, corporate and public bodies in order to make networks, communications and data as secure as possible. New, more efficient approaches to identifying and reducing attacks, providing early warnings and rapid remediation are urgently needed as the move to digitise our daily life proceeds apace. New defence mechanisms are essential and they must be subject to continuous development in order to stay one step ahead of those seeking to disrupt and steal valued information.
This is where ABI intends to operate.
ABI will actively seek out the best and brightest individuals with ideas on how to make our networks and the data which sits on them more robust to attack. The aim is to move conceptual projects to market as quickly and efficient as possible, for the benefit of all stakeholders.
Uniquely, ABI will have a very narrow focus on what it funds: innovative cyber security products for the enterprise.
Deal origination will focus on centres of excellence focussed in cyber security, computer science and mathematics along with initially targeting the UK to deploy its initial capital. ABI is based in London and is seeking to hire additional research analysts to support its programme going forward. Of particular interest are members of the hacking community with their own unique insight of how cyber threats originate.
ABI has closed its first round of funding resulting in a substantial investment from high net worth individuals. This includes a conditional commitment to make further funds available on achievement of milestone targets. This capital will be used to maintain operations of AlphaBeta as well as seed investment in cyber security.
As a result, AlphaBeta Investments is already in the due diligence phase for two separate deals and it is hoped that these projects will proceed to term sheets in the near future.
“Our goal is to discover true innovation in cyber security technology and then get it into the public domain as efficiently as possible to bolster all levels of defence against illegal intrusion and attack,” commented Adam Pritchard, CEO of AlphaBeta. “We are excited about our mission to improve enterprise defences against cyber criminals by working with true pioneers and innovators in system security.”
Adam Pritchard is the CEO of AlphaBeta Investments. He recently graduated from university in Boston, USA and specialises in start-ups and Information Systems. Adam has always had a passion for cyber security and believes that for the modern world to continue to progress at its current rate, there needs to be continuous development of our current security architecture.