Former U.S. Secretary of the Treasury Steven Mnuchin’s new private equity firm Liberty Strategic Capital is moving quickly into the hot sector of cybersecurity.
The firm announced Tuesday it has taken on its first majority stake in a company—Dallas-based Zimperium—since launching last year. The deal is worth approximately $525 million. According to Crunchbase data, the mobile security platform raised about $72 million before striking the deal with Liberty.
SoftBank, which has been an investor in Zimperium since 2017, will continue as a minority investor, according to the release.
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The deal is Liberty’s fourth in the cybersecurity space since its launch. Last month, the firm led a $250 million Series D at a $1 billion-plus valuation in New York-based BlueVoyant. Last July, Boston-based security company Cybereason raised $275 million at a reported $3.1 billion valuation in a round led by Liberty. Then in November, Los Altos, California-based Contrast Security closed a $150 million Series E at a greater than billion-dollar valuation, also led by Mnuchin’s new firm.
Liberty also provided a $150 million private placement commitment for Satellogic’s—satellite imagery company—SPAC merger.
In early 2021, The Washington Post reported Mnuchin was starting his own fund with money from sovereign wealth funds in the Persian Gulf region and other investors.
Illustration: Dom Guzman
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