Stephen Ward, a former U.S. Secret Service agent and one-time chief information security officer at Home Depot, is preparing a second fund of roughly $250 million for Brightmind Partners, the cybersecurity venture firm he co-founded. Ward's path to venture capital followed an unusual arc: early in his career he helped arrest a hacker, only to spend 18 months clearing his own name after the investigation ensnared him. He later moved into corporate security leadership, including his tenure at Home Depot, before turning to investing in early-stage cybersecurity companies.
The new fund would roughly double the capital raised for Brightmind's debut vehicle and signals continued investor appetite for security-focused startups despite a broader venture slowdown. Ward has said his operational and investigative background shapes how the firm evaluates founders and assesses risk. Brightmind has not disclosed a final close date or the full list of limited partners. The raise comes as demand for cybersecurity tools remains strong, driven by ransomware attacks and regulatory pressure on companies to harden their defenses.
Independent reporting synthesized from primary wires and global correspondents.