Trend Micro to nurture portfolio of IoT startups through new $100 million venture fund
IT security firm Trend Micro has launched a corporate venture fund with initial investments to the tune of $ 100 million.
It seeks to employ this venture arm to independently invest in and provide leverage to a portfolio of startups that are brimming with new ideas and innovations in technology, especially the IoT.
Trend Micro has always aspired to extend its reach globally and ensure safe digital exchange of information. With 26 billion devices estimated to connect to the Internet by 2020, as per Gartner, Trend Micro understands that the ecosystem is yet to evolve to ensure safe transactions and is channelizing its venture to offer companies financial backing, access to its world-class global threat intelligence, strategic alliances, as well as its channel of more than 28,000 partners.
The company seeks to learn through its collaborations with these startups and gain key insights in areas such as emerging ecosystem opportunities, disruptive business models, market gaps and skillset shortages to improvise them internally and augment its solutions.
Eva Chen, founder and CEO, Trend Micro, said: “We have a 29-year history of successfully anticipating technology trends to secure all types of environments. The first mega wave we caught was the growth of the PC marketplace; we committed early on to endpoint protection and remain a Leader in Gartner’s Magic Quadrant for Endpoint Protection Platforms today. 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 (AWS) alone.
“Now, we believe the next wave has arrived with IoT; our fund will help us harness this opportunity.”