Edinburgh cyber security firm eyes global growth with seven-figure funding

Private equity house Maven Capital Partners has led a seven-figure investment into Edinburgh-headquartered Quorum Cyber Security.
By Scott Reid
Published 21st Jul 2020, 16:45 BST
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Led by HNH director Neal Allen, the Scottish arm of the Belfast-based multi-disciplinary financial advisory firm secured the investment from Maven Capital Partners through its VCTs, alongside the Scottish Investment Bank, which will allow the Edinburgh-headquartered cyber security company to scale up. Picture: Rachel HeinLed by HNH director Neal Allen, the Scottish arm of the Belfast-based multi-disciplinary financial advisory firm secured the investment from Maven Capital Partners through its VCTs, alongside the Scottish Investment Bank, which will allow the Edinburgh-headquartered cyber security company to scale up. Picture: Rachel Hein
Led by HNH director Neal Allen, the Scottish arm of the Belfast-based multi-disciplinary financial advisory firm secured the investment from Maven Capital Partners through its VCTs, alongside the Scottish Investment Bank, which will allow the Edinburgh-headquartered cyber security company to scale up. Picture: Rachel Hein

The £2.7 million funding deal also involves the Scottish Investment Bank and will allow the capital firm to scale its business internationally.

The growth capital deal was instigated by Quorum Cyber’s managing director Federico Charosky, who has a 40 per cent stake in the business.

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Neal Allen, a director at financial advisory firm HNH, said: “While Covid-19 and Brexit have created a challenging financial climate, this growth capital investment demonstrates that there is appetite for growth and investment in Scottish business.”

Charosky said: “Working with HNH and Maven to create the deal has been a fantastic experience. This deal will enable Quorum Cyber to continue growing in a sustainable way.”

David Milroy, partner at Maven, added: “The senior team at Quorum have built a business with an enviable reputation and culture.”

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