Last updated 2026-07-20
- Raised $75M Undisclosed Round, Jun 2025
Portfolio
8
in our dataset
Rounds participated
11
Rounds led
5
Rounds' value
$861.0M
total disclosed, rounds participated
Stages
B Round, Seed, A Round
About
Merlin Ventures is the venture capital affiliate of Merlin Group, established in 2021. It is a US-based, Israeli-focused early-stage cybersecurity fund with dual headquarters in Tel Aviv, Israel, and McLean, Virginia, US. The firm specializes in backing Israeli cybersecurity startups, particularly those leveraging AI and targeting U.S. public-sector markets. Merlin Ventures provides capital, strategic guidance, technical advisory, market readiness acceleration, and access to a network of CISOs and government relationships to help portfolio companies scale and penetrate the U.S. and global markets.
Portfolio · 8
Huskeys
Huskeys modernizes web application security with an AI-powered Network Edge Security Management (NESM) platform.
Above Security
An AI-native managed insider threat platform for proactive risk management, using specialized AI agents to detect and prevent insider threats.
Stealth Mode Startup
A company operating in secrecy, limiting public knowledge until launch.
QiERA Systems Ltd.
QiERA Systems specializes in cyber security solutions with advanced hardware encryption, securing data-in-transit for critical mission applications.
42ai
Builds behavioral AI models that predict how people and institutions will act.
Spirit Security
Spirit is developing an advanced enterprise information security solution, designed for enterprise companies - large organizations and companies that use enterprise software.
Fabrix Security
AI-native identity security solution transforming IAM workflows with intelligent agents for real-time, explainable access decisions.
Cyolo
Cyolo provides a secure connectivity platform for operational technology (OT) and critical infrastructure, offering secure remote privileged access and Zero Trust microsegmentation.
Investment activity
7 portfolio exits on record.
Portfolio by sector
Cyber Security19
Business Software1
Funds · 1
- II — $75M Jun 2025
Q&A
- What is Merlin Ventures' primary investment focus?
- Merlin Ventures focuses on rapidly scaling visionary companies and introducing disruptive solutions to address critical cybersecurity challenges, primarily targeting the U.S. Government market.
- Which notable exits has Merlin Ventures had recently?
- Merlin Ventures has had several notable exits, including Veriti Security, which was acquired by Check Point Software Technologies for $100M in May 2025, and Rezonate, which merged with Silverfort for $30M in November 2024.
- What was a significant exit for Merlin Ventures in 2023?
- In November 2023, Merlin Ventures saw Talon Cyber Security acquired by Palo Alto Networks for $625M. Another significant exit in 2023 was Dig Security, acquired by Palo Alto Networks for $350M in October.
- What is the most recent fund raised by Merlin Ventures?
- Merlin Ventures raised Fund II, amounting to $75M, in June 2025.
- What stages of investment does Merlin Ventures typically engage in?
- Merlin Ventures typically invests in Seed, A Round, and B Round stages.
- Who are the Managing Partners at Merlin Ventures?
- The Managing Partners at Merlin Ventures are Shay Michels and Seth Spergel.
- Can you name some of Merlin Ventures' active portfolio companies?
- Merlin Ventures' active portfolio includes Above Security, an AI-native platform for insider threat prevention.
- What is Merlin Ventures' sector concentration?
- Merlin Ventures shows a strong concentration in the Cyber Security sector, with 19 portfolio companies and 7 exits in this area.
Full data — links, identifiers, deals & radar signals (jobs, patents, research, more)
External links
| Website | merlin.vc/ |
|---|---|
| linkedin.com/showcase/merlin-ventures-a-division-of-merlin-i |
Identifiers & details
| Founded | 2021-1 |
|---|
Radar intelligence
Web history (Wayback)
| Domain | merlin.vc |
|---|
Certificate / subdomain footprint
| Subdomains | 17 |
|---|