Pragma Capital Partners, the private equity arm of Turkey’s investment banking company Pragma that backs tech and industrial companies, has acquired a minority stake in a cyber-threat intelligence firm, in a tenth bet from its tech-focused fund.
PCP, which manages assets worth over $1 billion and a portfolio of seventeen companies, used its Technology Opportunities Fund to pick a minority stake in Threatmon, a cyber-threat intelligence firm that offers an end-to-end AI-backed intelligence platform to companies.
Threatmon’s platform enables companies to assess and analyse threat environments, anticipate and detect incidents, decrease incident response time, continuously test critical digital infrastructure, and design viable long-term cybersecurity strategies through providing intelligence on numerous verticals including attack surfaces, surface web, deep and dark web, fraud and cyber threats. ThreatMon’s intelligence platform has a user base of over 4000, and a client base of 200, according to the company.
The investment will accelerate Threatmon’s international growth plans, platform development, and product innovation.
Meanwhile, PCP, which backs fast-growing, export-oriented, and tech-enabled companies in Turkey, invests across two investment themes-industrial and technology. It backs industrial companies that export value-added products and services to international markets, generating hard currency revenues, and have the potential to become regional or global franchises. It also invests in companies that operate within technology, technology-enabled, and related growth industries.
PCP invests across growth equity and growth buyout strategies in Turkey.
Threatmon is PCP’s second bet from its Technology Opportunities Fund in 2024. Earlier this year, it invested in Idenfit, a cloud-based Human Resources Management platform. It had made five deployments from the Tech fund in 2023, including bioremediation solutions provider for wastewater treatment Zoi, cybersecurity firm Malwation, digital workforce service provider Unite, 3D printer manufacturer Zaxe, and biotechnology company Cellestetix.
It is also deploying from its Industrial Buyout Fund III and Fund II. Its recent industrial deals include a 60% acquisition of HMS Makina Sanayi, Turkey’s leading structural aerospace components maker, water filtration and water treatment equipment manufacturer MAT, and a 50% acquisition of Alpar Metal, a leading manufacturer of high-pressure die-cast (HPDC) parts for the automotive industry.
Its other portfolio companies include digital fashion rental company Dcey, AI-backed biotech company Enbiosis, and cybersecurity firm Binalyse.
