CSOs and CISOs know a thing or two about investing into cyber. They pour billions of dollars into the security market every year -- to combat the growing cybercrime epidemic which is predicted to cost the world $6 trillion annually by 2021, up from $3 trillion last year.
C-level information security executives at large corporations are savvy investors. They speak to IT analyst firms, read cybersecurity reports and white papers, have their teams evaluate offerings from startups to major players, and spend months deciding on which vendors will get a chunk of their budget. Then they collaborate with their CFOs who help with final vetting and sign offs on major spends.
There's one event which straddles the IT and financial communities, bringing CISOs and VCs alongside each other in a unique venue.
Its website describes the 2nd Annual Cyber Investing Summit as "an all-day conference focusing on investing in the cyber security industry, which is predicted to exceed $1 trillion in cumulative spending on products and services over the next five years from 2017 to 2021."
"At the 2nd Annual Cyber Investing Summit leading venture capitalists, technology analysts, and information security officers from some of the world's largest financial institutions will provide insight into the future of the industry and explore the investment opportunities within the cyber security sector," said Cyber Investing Summit Co-Founder Lindsey Lachman in an interview.
Two of the Summit CISOs hail from Fortune 500 corporations. "Panelists include Wells Fargo CISO Rich Baich and Barclays CISO Troels Oerting, and more" adds Lachman.
"The growing focus on cyber security has spurred a heightened interest in both the importance of the cyber security industry as well as the investing opportunities," says Co-Founder Andrew Chanin. "With many experts predicting an expansion in global cyber security spending, it is not surprising to see investors increasing their portfolios' exposures to this dynamic and critical industry," adds Chanin, who is also CEO of PureFunds and sponsor of the PureFunds ISE Cyber Security ETF, HACK -- the world's first cybersecurity ETF.
The inaugural Cyber Investing Summit held earlier this year was sold-out. Next year's event takes place on May 23. CISOs may want to plan ahead and book late flights home... or leave the next morning. The Summit concludes with a cocktail reception on the floor of the iconic New York Stock Exchange (NYSE).