Paladin Closes on Cyber Fund, Promotes Four Executives

Sep 22 2015 | 6:09pm ET

Multi-stage private equity firm Paladin Capital Group has achieved a first close on its new Paladin Cyber fund and promoted four executives as it continues to focus heavily on cyber and digital security investments.

Through Paladin III Fund, Paladin Cyber Fund, and affiliated vehicles, the firm has made 38 investments in cyber and digital security technologies over the past twelve years, according to a press release.

The promotions are as follows: Christopher Steed to Managing Director, Mourad Yesayan to Principal, Gibb Witham to Vice President, and Tom Clute to Associate.

“Paladin has invested and continues to invest knowledgeably in the cyber security sector”, said Michael Steed, founder and managing partner of Paladin. “We have an excellent team, and are proud to announce these four promotions, reflecting their commitment to Paladin and our goals and responsibilities to our investors.”

“These individuals will continue to work closely with Lt. Gen. (Ret.) Kenneth Minihan, Mark Maloney, Paul Conley, Philip Eliot, Dan Mudd, and Alex O’Cinneide towards achieving excellent returns for our investors,” he added. 

Steed joined Paladin in 2008 and currently leads the development and implementation of the firm’s multi-stage, national security-related investment strategy, particularly in Paladin’s global IT and Cyber Security portfolios. He is also responsible for deal sourcing, deal execution, and portfolio company management, and he has provided board-level oversight for numerous Paladin portfolio companies. Prior to joining Paladin, Mr. Steed worked in Merrill Lynch’s Private Banking and Investment Group

Yesayan joined Paladin in 2009 from an executive role in financial planning & analysis at Pacific Ethanol, where he was part of the founding management team that took revenue from $80 million to $700 million. He also played a key role in structuring over $500 million of equity and debt growth capital. 

Witham joined Paladin in 2011 from IBM, where he advised technology, life sciences, and retail clients on growth strategies for emerging business units. 

Tom Clute joined Paladin in 2010 after earning an MBA at Duke. He works with a number of Paladin’s cyber security companies. 

Founded in 2001 by Michael Steed and Mark Maloney, Paladin is headquartered in Washington, D.C.

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