Holly Ventures, a new solo-led cybersecurity venture fund, has announced the launch of its $33 million debut fund. The firm emphasizes direct engagement and flexibility for early-stage cyber startups, positioning access and value as priorities over sheer capital.
Founded by John Brennan, formerly a Senior Partner at YL Ventures, Holly Ventures aims to provide a distinct model in the venture capital landscape. Instead of competing on fund size, the firm focuses on the “Day Zero” stage, where founders benefit from direct interaction with the decision-maker and adaptable capital structures. This approach seeks to offer both the deep sector focus of smaller funds and the network reach typically associated with larger platforms, while allowing founders to maintain optionality on their cap tables. Brennan stated that while great early-stage security founders generally have access to capital, the quality of that capital varies. Holly Ventures intends to support teams from their ideation processes, focusing on the earliest stages of company building.
The fund is backed by investors from firms such as Bessemer Venture Partners, Ballistic Ventures, CRV, Wing VC, IVP, TCV, Notable Capital, Team8, Brightmind, and Ten Eleven Ventures. Institutional support includes Vanderbilt University and Okta Ventures. This diverse network aims to provide founders with extensive access to their target markets, combining the breadth of a larger fund with the agility of a solo-GP model.
Jonathan Langer, co-founder and CEO of Medigate, which was acquired by Claroty for $400 million in 2022, recounted Brennan’s hands-on support during Medigate’s early days, including customer introductions and strategic guidance. Eran Barak, co-founder and CEO of MIND and former co-founder and CEO of Hexadite (acquired by Microsoft in 2017), noted Brennan’s willingness to engage deeply and provide honest feedback as a board member at MIND.
Holly Ventures exclusively invests in seed-stage cybersecurity companies, typically co-investing in rounds ranging from $5 million to $10 million. Its initial six investments, two of which have advanced to Series A, have seen lead investors including Index Ventures, Notable Capital, Team8, Cyberstarts, Sequoia, General Catalyst, and Foundation Capital. Brennan’s experience in both the U.
S. and Israeli cybersecurity ecosystems provides the fund with reach into two significant hubs for technical talent and early customer feedback. His work with founders encompasses board preparation, executive hiring, customer strategy, and serving as a primary point of contact during challenging situations. Brennan concluded that in the competitive early-stage cybersecurity market, founders often have many options for capital, but Holly Ventures aims to provide focused attention and access to a world-class network from the outset.
