Maryland's TEDCO and a team of entrepreneurs are planning to launch a new $20 million cybersecurity fund early next year, according to Executive Director Robert Rosenbaum.
The state-sponsored investment group plans to formally announce the cyber fund in January. Rosenbaum declined to name the sponsors, whom he described as "a couple of young guys that built a fairly large cybersecurity company and sold it." The capital — assuming they are successful in raising it — would be used to invest in early-stage cyber startups, both those building products and those selling services, he said.