Security firm Trend Micro said Monday that it had launched a $100 million venture fund to accelerate growth in emerging technology ecosystems, targeting startups in "hyper growth markets" like IoT.
"This fund will focus on non-security to better understand the challenges around the deployment of these new emerging technologies further learning from those experiences," Wael Mohamed, president and COO of Trend Micro, told CRN in an email. "We are hoping this will benefit Trend Micro and Trend Micro channels in the best way, to be in the middle of this emerging mega trend."
According to Trend Micro, its new venture arm will offer companies financial backing, access to resources like global threat intelligence, strategic alliances, and access to its channel partners.
The company said its goal with the new venture is to learn from those incubating ideas and living at the center of hyper growth markets and emerging technologies. Trend Micro's venture fund will focus on non-cybersecurity startups to avoid corporate development conflict, as the company already has other mechanisms that handle cybersecurity investments and acquisitions.
“Trend Micro’s vision has always been to make the world safe for exchanging digital information," said Eva Chen, CEO for Trend Micro in a statement. "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 organizations and individuals can operate and live safely in this new reality.”
“We have a 29-year history of successfully anticipating technology trends to secure all types of environments,” said Chen in a statement. “The first mega wave we caught was the growth of the PC marketplace…The second mega wave was all about the cloud; we made a bet early on to securing the cloud, and so far we have secured over two billion workload hours on Amazon Web Services alone. Now, we believe the next wave has arrived with IoT; our fund will help us harness this opportunity.”
Trend Micro is the latest security company to bolster its investments around IoT through launching a new venture fund.
In March, Symantec announced it is launching a new venture capital program and startup accelerator called Symantec Ventures, focused on early-stage artificial intelligence, analytics and machine learning startups in the security market.
Palo Alto Networks, in early June, also started a $20 million venture fund aim at early stage, seed stage and small startups with plans to build applications on the company's Application Framework.
"Security companies will require a very deep understanding of IoT to provide protection products," said Marc Harrison, president of Silicon East, a Marlboro, N.J.-based solution provider specializing in building automation security. "So these investments clearly have strategic value, allowing them to get very close to experts in the IoT space."