
Osney Capital has closed its first venture capital fund with more than $92 million to invest in early-stage cybersecurity startups across the United Kingdom and Canada. As reported by BetaKit, the UK-based firm is planning on setting up shop in Calgary to support its cross-border ambitions.
The new Calgary office will be led by partner Adam Cragg, who brings experience from Innovate Calgary and Quake Capital. Cragg said Osney aims to help UK startups enter the North American market and assist Canadian companies expanding into the UK and Europe.
“In a field like cybersecurity that’s very driven by trust, there’s a long-standing, trusting relationship between the UK and Canada,” Cragg told BetaKit. He also highlighted Canada’s strengths in artificial intelligence, quantum computing, and data centres as key reasons for expanding operations here.
Osney is positioning itself as the only VC firm focused exclusively on seed-stage cybersecurity investments in both the UK and Canada. The firm plans to invest in up to 30 companies through its debut fund, with initial cheques ranging from £250,000 to £2.5 million and potential follow-on investments at the Series A stage.
Cragg said Osney is excited by the “unclaimed space around specialized cybersecurity capital in Canada” and plans to grow its local presence in the coming years. The fund’s cornerstone investor is the British Business Bank, with additional support from IronGate Capital Advisors, East X Ventures, exited cybersecurity founders, and Canadian family offices.
Osney has already made angel investments in six UK cybersecurity startups—including Sitehop, Onsecurity, and Mindgard—to validate its investment thesis.
Despite a tough year for venture capital, Osney’s successful fundraise signals strong investor interest in cybersecurity, a sector Cragg described as “central to protecting our way of life.”
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