Former AVG executives beef up cyber security investment fund

Last month, a computer virus dubbed GoldenEye or Petya wreaked havoc on firms in more than 60 countries. Pictured is a laptop display showing part of a code, which is the component of Petya malware computer virus.

PRAGUE: A group of former executives and investors from antivirus software maker AVG Technologies have raised an additional US$55mil (RM235.73mil) for their fund that invests in cyber security companies, its managing partner said.

Evolution Equity Partners, which raised US$70mil (RM300mil) in its first funding round in 2015, is looking to bulk up its portfolio at a time when cyber attacks and hacks worldwide are surging.