Santander, Forgepoint Capital to Fund Cybersecurity Companies

Santander and Forgepoint Capital announced a strategic alliance to invest in emerging cybersecurity companies around the world. Santander, with more than 157 million clients and deemed as one the largest banks in the world, will act as anchor investor. Forgepoint Capital, a leading venture capital firm specializing in cybersecurity, will work as a key ally to identify the best companies. 

“The alliance includes three initiatives. The first is the creation of Forgepoint Capital International (FPCI), a new venture capital manager to invest in cybersecurity startups, mainly in the EU, Latin America and Israel. The second is Santander's participation in Forgepoint's upcoming North American fund, the third since its founding in 2015. The third is a program for potential joint investments. In total, these three initiatives will represent an investment by Santander of up to €300 million (US$293 million),” reads Santander’s press release.

FPCI will work to launch a fund open to the incorporation of institutional and private investors by 2023, with Santander as the anchor investor. Identifying market gaps and investment opportunities in different regions will be the main objective of the fund, which aims to further enhance the growth and development of a determined portfolio of companies that will provide solutions for global business challenges. “Investing in companies, technology and people specialized in cybersecurity is essential to our mission of generating value and trust for society and helping to create a safer ecosystem. We are delighted with this alliance and with the creation of Forgepoint Capital International,” said Daniel Barriuso, Global Head of Cybersecurity (CISO), Santander. 

FPCI contains specialized investment platforms additional to Santander’s main activities, as the bank highlights the importance of cybersecurity to help people and businesses advance. “Given that cybercriminals act globally, innovation in cybersecurity should have no borders, the opportunities are endless. This expansion represents the logical step in Forgepoint's evolution as a leading venture capital platform for investing in cybersecurity. We are very pleased to partner with Santander to invest in and develop the world's most promising cybersecurity companies, to help ensure economic growth and progress,” explains Alberto Yépez, Co-Founder and CEO, Forgepoint Capital.