Sunday, August 21, 2005
VC -->Trident's Sygate Sale
Trident Capital scored its first win on its security portfolio when Symantec scooped up Sygate. Sygate sells software that can control access rights to sensitive corporate networks. When installed on a laptop, its program will scan the computer for viruses, download patches, and make sure that it won’t infect a corporate network. Trident Capital has become a major backer of several security startups. Led by partners Don Dixon and Peter Meekin, the company has backed startups such as AirTight, Thor Technologies, Qualys, and TriCipher. “We think we have the best internal team on security of any venture fund and we have one of the best portfolios,” says Trident’s Howard Zeprun. The firm hired consultants such as Howard Schmidt, a former CSO at eBay and Microsoft and a retired White House security advisor, to give guidance on security trends. But with so many VCs looking make money on the security trend, the rest of the portfolio will face a lot of competition.