Stephen Ward, co-founder of Brightmind Partners, has closed a $250 million cybersecurity fund in New York. The firm's debut fund, closed late last year, saw its first major win when Crowd Strike agreed to buy identity security startup SGNL for $740 million, 11 months after Brightmind led its Series A. Ward's unique background includes nine years in the Secret Service, CISO roles at TIAA and Home Depot, and flipping a hacker who later received a 20-year sentence.
Now raising a second fund without his co-founder, Ward is betting on early-stage cybersecurity startups, which are currently raising more money than later-stage rivals. His pragmatic approach to exits, shaped by his unconventional career path from the Coast Guard to venture capital, distinguishes him in the current market. Ward grew up in northwest New Jersey between two farms and faced financial barriers to higher education.
After high school, he joined the Coast Guard and later the Secret Service, where he investigated financial crimes and cyber threats. His experience arresting a hacker and subsequently clearing his name after a false accusation defined his trajectory. He transitioned to the private sector, building cybersecurity units at major financial institutions before turning to venture capital.
Ward's firm focuses on the identity security sector, believing the combination of operational experience and fiduciary discipline creates better investment outcomes.
Source: TechCrunch Venture · Summarized by HeadlinesBriefing