SAN FRANCISCO and TEL AVIV, Israel, July 19, 2023 (GLOBE NEWSWIRE) -- Israeli-American cybersecurity seed stage venture capital firm YL Ventures, the seed investor behind Orca Security and Axonius, today announced that Dave Reed, former CFO and CCO of PowerPlant Partners, is joining the YL Ventures team as Chief Financial Officer.
Reed will serve dual roles as both CFO of the firm’s $800 million AUM and as strategic advisor to its portfolio companies. His move to YL Ventures follows 20 years of accumulated experience in startup financial strategy.
Dave has previously worked as auditor for notable investment funds, including Accel, Lightspeed Venture Partners and Babcock & Brown, among others. He has gained comprehensive knowledge in M&A transactions and various fund strategies in addition to accounting, reporting, financial and tax planning. His most recent experience also saw him effectively lead vendor management initiatives and ensure regulatory compliance.
Having operated as a financial executive throughout different market climates, including the 2008 financial crisis, Reed will lend his experience to founders in overcoming today’s market challenges–from fundraising to achieving healthy and sustainable growth. Given the cross-border nature of Israeli enterprise cybersecurity sales, Reed will also play an essential role in helping the fund’s Israeli founders navigate U.S. financial regulations, tax obligations, reporting requirements and other compliance tasks.
The unique market position of cybersecurity companies is what initially drew Dave to work with YL Ventures. “A market slowdown doesn’t mean fewer threats. In fact, it usually means the opposite for the cybersphere,” said Reed. “I’m greatly inspired by YL Ventures’ ongoing bullish approach to cybersecurity and the innovative, hands-on way they are working with their portfolio companies to weather this market storm and maintain a competitive edge. I intend to continue this legacy of value-add by leading its finance initiatives and lending my experience to YL Ventures’ portfolio companies across their company-building journeys.”
For the last decade, YL Ventures has expanded into a wide, multidisciplinary team of experts in ideation, business development, marketing and human resources. They are complemented by an Advisory Board totaling more than 100 cybersecurity decision-makers in Fortune 1000 companies. “Every member of our team specializes in their own brand of hands-on support,” said YL Ventures Managing Partner Yoav Leitersdorf. “We’re greatly looking forward to what Dave’s impressive experience and expertise will bring to the table. In addition to his management of the firm’s finances, Reed will work closely with the firm’s executive and investment teams on both value-add efforts and supporting portfolio founders on their budgets, pricing strategies and audits.”
About YL Ventures
YL Ventures funds and supports brilliant Israeli cybersecurity entrepreneurs from seed to lead. Based in Silicon Valley and Tel Aviv, YL Ventures manages five funds with $800M in total assets under management. The firm accelerates the evolution of portfolio companies via a powerful network of Chief Information Security Officers, global industry leaders and a dedicated team of experts, providing tailored guidance and hands-on support on all critical company-building domains. The firm's track record includes investments in Israeli cybersecurity unicorns such as Axonius and Orca Security, as well as successful, high-profile portfolio company acquisitions by major corporations including Palo Alto Networks, Microsoft, CA and Proofpoint.
Media Contact:
Montner Tech PR
Deb Montner
dmontner@montner.com
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