Former FireEye CEO joins cyber venture fund Allegis

(Reuters) – Technology executive Dave DeWalt has joined early-stage cyber-security venture capital firm Allegis Capital as a managing director, the fund said on Thursday, as it looks to invest more in companies closer to going public.

President and CEO of McAfee Dave DeWalt takes part in a panel titled “Cybercriminology: Why is it so tought to catch the online terrorists, crooks and other evil doers” at the Fortune Brainstorm Tech conference in Pasadena, California July 24, 2009. REUTERS/Fred Prouser

With the appointment DeWalt, a former CEO of FireEye Inc (FEYE.O) and McAfee before it was acquired by Intel Corp (INTC.O), is moving directly into the world of venture capital after years of running companies.

“His experience, and the networks that come with it, will be a tremendous asset to our firm and our portfolio companies as they grow from solution innovators to market leaders,” Allegis founder Bob Ackerman said in a statement.

Allegis is looking to raise between $ 200 million and $ 400 million to invest in series C funding rounds, a source with knowledge of the plans said. Such rounds typically involve the last private cash injected into a company before it goes public.

San Francisco-based Allegis also said it would change its name to AllegisCyber and open an office in the Washington area to tap into the region’s high density of cyber engineers and robust investment opportunities.

Allegis said that DeWalt had previously consulted on several investments, including a stake they took in Callsign, where DeWalt sits on the board.

DeWalt has this year joined the boards of a string of cyber security companies including ForgeRock, Optiv, Phantom and Claroty. He has sat on the board of Delta Air Lines Inc (DAL.N) since late 2011.

Allegis’ existing cyber security investments include Area 1, Bracket Computing, CyberGRX, E8 Security, Shape Security, Signifyd, Synack, tCell.io and vArmour.

Reporting by Alastair Sharp; Editing by Jim Finkle and Diane Craft

Our Standards:The Thomson Reuters Trust Principles.

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Deloitte Is the Latest Target of a Cyber Attack With Confidential Client Data at Risk

Global accountancy firm Deloitte has been hit by a sophisticated hack that resulted in a breach of confidential information and plans from some of its biggest clients, Britain’s Guardian newspaper said on Monday.

Deloitte—one of the big four professional services providers—confirmed to the newspaper it had been hit by a hack, but it said only a small number of its clients had been impacted.

The firm discovered the hack in March, according to the Guardian, but the cyber attackers could have had breached its systems as long ago as October or November 2016.

The attack was believed to have been focused on the U.S. operations of the company, which provides auditing, tax advice, and consultancy to multinationals and governments worldwide.

“In response to a cyber incident, Deloitte implemented its comprehensive security protocol and began an intensive and thorough review including mobilizing a team of cybersecurity and confidentiality experts inside and outside of Deloitte,” a spokesman told the newspaper. “As part of the review, Deloitte has been in contact with the very few clients impacted and notified governmental authorities and regulators.”

A Deloitte spokeswoman declined immediate comment, saying that the firm would issue a statement shortly.

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