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
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170914005289/en/