Swedish buyout firm EQT invests in cybersecurity company EC-Council

Swedish alternative investment firm EQT has taken a significant equity stake in cybersecurity training and certification services provider EC-Council.

Founded by Malaysian entrepreneur Jay Bavisi in 2001, EC-Council develops and provides training and certification programmes globally. 

EC-Council will join a clutch of cybersecurity companies already in EQT’s global portfolio, which include Basel-based Open Systems, San Francisco-based startup HackerOne, and Israeli startup CYE.

The financial details of the transaction, which was led by Singapore-based Brian Chang, a partner at EQT and its head of Southeast Asia, were not disclosed. 

EQT, listed on the stock exchange in Stockholm, had previously guided that it expects to make investments of around $100 million, per deal, in Asia. 

The investment in EC-Council is understood to be among the last made from its Mid Market Asia III fund. The fund closed in 2018 at $800 million and was described as nearly 70% deployed in EQT’s 2019 IPO prospectus.

Other investments made through the fund include Singapore-based healthcare services administrator MHC, hospital chain HMI Group, education services provider ILA in Vietnam, cloud and managed services provider Nexon Asia Pacific in Australia, and ingredient manufacturer Indesso Group in Indonesia.  

EQT is now raising 2 billion euros for its Asia Pacific strategy, which puts the region on par with the firm’s global growth strategy.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.