What Paladin Capital Group does

Paladin Capital Group is a private, multi-stage venture capital firm founded in 2001 by Michael Steed and Mark Maloney, both previously of Ullico where they managed an $8 billion portfolio across technology, defense, and related sectors. Headquartered in Washington, DC with offices in New York, Silicon Valley, London, and Luxembourg, Paladin invests across seed, venture, and growth stages in cybersecurity, AI, defense, and advanced-technology companies, anchored by a proprietary 'dual-use' investment thesis that positions portfolio technologies for both commercial and government/national-security customers. Since inception the firm has committed more than $1.5 billion across multiple funds (with one source citing over $2 billion managed) and invested in 85+ portfolio companies, including SandboxAQ, Semperis, Secure Code Warrior, 10x Genomics, QuantaLife, ThreatModeler/IriusRisk, Mimica, RADICL, and Dam Secure. Capital is deployed through dedicated vehicles including Cyber Fund II, the AI Investing vertical, and the Luxembourg-based Paladin European Cyber Fund SCSp-SIF.

Paladin's revenue model follows the standard private equity fund structure: recurring management fees on committed capital across multiple fund vehicles, plus performance-based carried interest from exits. The firm distributes capital via direct outreach to founders (via a 'Submit A Plan' portal and proactive sourcing by Managing Directors) and co-investment syndicates with peer VCs such as KKR, Insight Partners, Goldman Sachs, Khosla Ventures, and Crosspoint Capital Partners. Rather than building a software product, Paladin's proprietary capabilities consist of its dual-use investment methodology, a senior national-security talent bench (Strategic Advisory Group including former U.S. National Cyber Director Chris Inglis, founding NCSC CEO Ciaran Martin, former NSA Deputy Director Richard Ledgett, Sir David Omand, and Richard A. Clarke), and the Paladin Global Institute (PGI) policy research arm led by former Acting U.S. National Cyber Director Kemba Walden, which publishes frameworks such as the 2025 AI Tech Stack and the 2026 Governance Layer Primer to shape AI and cyber policy. The firm is regulated via Paladin Capital Group (UK), LLP (FCA-classified SNI MIFIDPRU Investment Firm) and manages European vehicles through Luxembourg entities.

Name

Paladin Capital Group

Legal name

Paladin Capital Group

Website

http://www.paladincapgroup.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Paladin Capital Group is a private multi-stage venture capital firm founded in 2001 that invests in cyber, AI, and dual-use defense technology companies through dedicated fund vehicles, serving founders and institutional LPs globally from offices in five cities.

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Cybersecurity venture capital
• Dual-use technology investing
• AI venture capital
• Defense technology investment
• Multi-stage private equity

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund management fees: Recurring management fees earned on multiple cyber-focused investment vehicles including Paladin Cyber Fund II, the Paladin European Cyber Fund SCSp-SIF, and affiliated vehicles — a recurring revenue stream typical of multi-stage private equity fund management.
2. Carried interest / investment returns: Performance-based economics (carried interest and co-investment gains) generated from successful portfolio exits such as 10x Genomics (IPO Sept 2019), QuantaLife (acquired by Bio-Rad for $162 million), Crossbow (acquired by Moog), Arxan, Unitrends, PhishMe and others.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Paladin Capital Group is a multi-stage venture capital firm that invests growth and venture capital in cybersecurity, AI, defense, and advanced technology companies using a dual-use (commercial + government) investment thesis. It deploys capital through dedicated fund vehicles such as Cyber Fund II and the Paladin European Cyber Fund, supported by a research and policy arm (Paladin Global Institute) that produces AI governance frameworks.

Product overview

Paladin Capital Group is a multi-stage, dual-use venture capital firm that delivers its offering through a coordinated platform of investment vehicles and research arms rather than a single unified product. Its investment platform comprises the dedicated Cyber Fund II and an explicit AI Investing vertical, both of which deploy capital into innovative cyber, AI, defense, and advanced technology companies serving commercial and government customers. Complementing this investment activity, the Paladin Global Institute (PGI) is the firm's research and policy institute that publishes the AI Tech Stack Framework and its sequel publication "The Governance Layer: A Primer for Tech and Cyber Policy" to shape AI governance standards. Together, the Cyber Fund II, AI Investing focus area, PGI, and the AI Tech Stack Framework form an integrated ecosystem in which capital deployment is reinforced by policy research and an in-house AI and Data Analytics capability led by the firm's first Director of AI and Data Analytics.

Differentiator

Problem solved

Functional benefit

Brands

• Paladin Global Institute (PGI): Policy research and advocacy arm of Paladin Capital Group focused on protecting global critical infrastructure from AI, cyber, and deep tech risks through research, advocacy, and public-private collaboration.
• Cyber Fund II

Products and services

• Cyber Fund II

Quantifiable outcome

• 85+ portfolio companies invested in since 2008
• +7 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ForgePoint Capital: Formerly known as SecurityGrowth Partners, ForgePoint is a leading cybersecurity-focused venture capital firm investing across the cybersecurity ecosystem. Directly comparable to Paladin given shared cyber-specialist thesis, similar stage focus, and overlapping portfolio companies.
• NightDragon: NightDragon is a dedicated cybersecurity, safety, security and privacy venture capital firm. Closely comparable to Paladin as a sector-specialist VC with a government/enterprise go-to-market focus and senior advisory network.
• YL Ventures: YL Ventures is an Israel-based seed-stage cybersecurity venture capital firm. Directly comparable to Paladin's seed/early-stage cyber focus; YL co-invested with Paladin in Mind Security, indicating direct deal overlap.
• Cyberstarts: Cyberstarts is a venture capital firm dedicated to early-stage cybersecurity investing with a founder-focused model. Highly comparable to Paladin on sector specialization and early-stage cyber deal flow.
• Team8: Team8 is a cybersecurity-focused venture capital and builder platform with deep ties to Israeli defense/intelligence talent. Comparable to Paladin's national-security-driven cyber thesis and dual-use orientation.
• DataTribe: DataTribe is a cybersecurity venture capital firm founded by former U.S. intelligence operators that invests in startups co-built with government technologists. The most direct U.S. peer to Paladin's national-security talent thesis.
• SYN Ventures: SYN Ventures is a venture capital firm focused exclusively on cybersecurity and infrastructure software companies. Closely comparable to Paladin on sector specialization and stage range across seed-to-growth.
• AllegisCyber Capital: AllegisCyber is one of the earliest cybersecurity-focused venture capital firms, investing across seed to growth. Comparable to Paladin as a longstanding cyber-specialist with both commercial and government market access.

Broad incumbents

• Insight Partners: Insight Partners is a large-scale global venture capital and private equity firm with a significant cybersecurity portfolio (co-invested with Paladin in Semperis). Broader scope than Paladin but a relevant incumbent in the cyber growth stage.

Emerging players

• Boldstart Ventures: Boldstart Ventures is an early-stage venture capital firm focused on enterprise infrastructure, cybersecurity and developer tools. Comparable to Paladin's seed-stage cyber orientation but with a narrower portfolio and stage focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/paladincap
• LinkedInlinkedin.com/company/64897

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments199 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paladin Capital Group