Stephen Ward readies $250 million second fund for Brightmind Partners
Luis Cabral ·
Former Secret Service agent and ex-Home Depot CISO Stephen Ward is preparing a roughly $250 million second fund for cybersecurity-focused Brightmind Partners today, TechCrunch reports. The raise highlights investor interest in security startups as high-profile breaches keep pressure on enterprises to modernize defenses. It also marks the latest operator-led play in venture, with seasoned CISOs backing tools they once bought.
Ward’s path to VC was unconventional: he arrested a hacker, then spent 18 months clearing his own name before returning to the industry and backing founders, according to TechCrunch. Key details such as target close, LP mix, and initial deal pipeline were not disclosed by the report. Watch for formal fund filings, anchor LPs, and the first term sheets to confirm the timeline and thesis in practice. [Developing. This article will be updated.]