Prosegur launches fund with 30 million euros to invest in technology applied to security
Prosegur Tech Ventures has already made five direct investments in start-ups with different levels of maturity operating in the fields of security, cybersecurity or fintech
Madrid, 4 July 2019.- Prosegur has set up an investment fund under the Corporate Venture Capital modality with an initial endowment of 30 million euros. This initiative is part of the global transformation project Prosegur has embarked on. The company seeks, in collaboration with its investees, to strengthen its offer of services in both physical and logical security, and to continue generating value for the group in the long term.
Since its establishment, Prosegur Tech Ventures has reviewed more than 400 investment proposals, of which approximately 150 have been analysed in detail, to finally make five investments to date, and with plans to close several additional operations before the end of the year. By the acquisition of shares in these companies, Prosegur seeks to obtain a financial return, as well as encourage the development of new trends and technologies that break the mould in the field of security. The company wants to lead the transformation of the security industry through the incorporation of technology-based solutions in services. In addition, Prosegur is strengthening and differentiating the position of its three business units, which have to operate in increasingly competitive environments.
Prosegur Tech Ventures has a dedicated team that works closely in the search and identification of relevant opportunities for each business unit: Prosegur Security, both in technology and cybersecurity, Prosegur Cash and Prosegur Alarms. Within the work scheme that has been designed, each business unit must first endorse the investment proposals, which are subsequently approved by an investment committee made up of company experts and external professionals. In this way, Prosegur is creating a portfolio of minority investments in start-ups that are related to the group’s activities in the broadest sense. In doing so, the company brings the added value and experience of more than 40 years as one of the world leaders in the security industry, while taking the best practices of Venture Capital firms with financial aims.
Prosegur Tech Ventures’ investments do not have any geographical limitation and, though flexible when analysing each investment, the ticket ranges from a minimum investment of 300 thousand euros to a maximum of 3 million euros. To date, investments have been made into two Israeli cybersecurity companies, one operating under the “command & control” platform and the other applying cognitive computing techniques with a special focus on GDPR (General Data Protection Regulation). In addition, Prosegur Tech Ventures has invested in a Brazilian FinTech specialized in the reconciliation of retail collections and capable of processing more than 18 million transactions per month. A Spanish AdTech (technology applied to marketing) specialist, through the incorporation of artificial intelligence, in the optimization of leads for the generation of sales (L2RM). And finally, a German company that develops augmented reality-based solutions in industrial applications.