CloudGuard Secures Investment to Expand Cybersecurity Workforce
Deal News | Nov 14, 2024 | TLT
National law firm TLT has successfully advised Manchester-based venture capital firm Praetura Ventures on its investment into the cybersecurity start-up CloudGuard, as part of the Northern Powerhouse Investment Fund II (NPIF II). This strategic investment aims to bolster CloudGuard’s operations by expanding its Manchester hub from 30 to 50 personnel and enhancing its collaborations with local universities to strengthen AI research. Moreover, the investment will support the growth of the CloudGuard Cyber Academy, which provides critical training and industry exposure across various levels of experience. Corporate partner Victoria Zivkovic from TLT guided the legal aspects of the transaction, alongside associate James Pike. Both firms expressed satisfaction with the collaborative process, envisaging a strengthened cybersecurity sector in the North of England thanks to these concerted efforts.
Sectors
- Venture Capital
- Cybersecurity
- Legal Advisory
Geography
- United Kingdom – The investment involves UK-based entities, with particular emphasis on supporting businesses in the North of England, namely Manchester.
- Manchester – Both Praetura Ventures and CloudGuard are based in Manchester, highlighting the city's emerging role in the cybersecurity industry.
Industry
- Venture Capital – The article discusses venture capital investment by Praetura Ventures into CloudGuard, emphasizing the role of venture capital firms in supporting start-ups.
- Cybersecurity – CloudGuard is a cybersecurity start-up focusing on cyber-attack detection and response, highlighting the growth and importance of the cybersecurity sector.
- Legal Advisory – TLT, a national law firm, provided legal advice for the investment, illustrating the involvement of legal advisory in facilitating venture capital transactions.
Financials
- Northern Powerhouse Investment Fund II – The investment was made through Praetura's NPIF II Praetura Equity Finance segment, though specific financial figures were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TLT | Legal Advisor | Company | A national law firm that advised Praetura Ventures in the investment transaction. |
| Praetura Ventures | Investor | Company | A Manchester-based venture capital firm specializing in early-stage high-growth businesses in the UK. |
| CloudGuard | Target Company | Company | A Manchester-based cybersecurity start-up focused on AI and automation in cyber-attack responses. |
| Victoria Zivkovic | Corporate Partner | Person | Corporate partner at TLT who led the legal advisory team. |
| James Pike | Associate | Person | Associate at TLT who supported the legal advisory process. |
| Michael Rees | Investment Manager | Person | Investment manager at Praetura Ventures involved in the transaction. |