Stephen Ward, co-founder of New York cybersecurity firm Brightmind Partners, is raising a second fund targeting about $250 million, TechCrunch reported on Nov. 5¹.

The two-year-old firm closed a debut fund of about $250 million late last year with co-founder Gur Talpaz¹. Ward is now the sole general partner after Talpaz left in April with another early colleague, TechCrunch said¹.

Ward's background includes the U.S. Coast Guard, nine years in the Secret Service, and chief information security officer roles at TIAA and Home Depot before he joined Insight Partners and later started Brightmind in 2024¹.

TechCrunch cited SGNL, an identity-security startup CrowdStrike agreed in January to buy for $740 million, 11 months after Brightmind led its Series A, as a proof point for the first fund¹.

Ward told TechCrunch that venture investors should plan for sales, saying, "You have to sell on the way up"¹. He told the outlet he left Insight, cold-emailed limited partners, and filled Fund I with fewer than 20 LPs, including Insight's Jeff Horing¹.

Ward, using legal phrasing, cited "differences in opinions regarding operations and the future of Brightmind" regarding the split, TechCrunch reported¹. Talpaz and a former colleague later started another venture firm, the story said¹.

Brightmind had five people at the time of the report, including COO Iva Messy, who previously worked at Felicis and Andreessen Horowitz¹. Ward questioned how many 2026 deals labeled as AI security actually fit that category after his team reviewed PitchBook counts¹.

Whether the second fund closes, at what size, and on what timeline were not established in the TechCrunch account¹.

Sources

1. TechCrunchThe ex-Secret Service agent who flipped a hacker is now raising a second $250M cybersecurity fund1:00 PM

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