Temasek-founded ISTARI invests in cybersecurity play Prevalent AI

Singapore one dollar bill

ISTARI, a global cybersecurity platform founded in 2020 by Temasek Holdings, has become a “significant minority shareholder” of security data science company Prevalent AI (PAI), the companies said in a press release Thursday.

Singapore state-owned investment company Temasek has shown interest in moving to the bottom of the investment food chain to actually found startups, rather than merely investing in already formed companies, according to a Tech In Asia report late last year.

London-based ISTARI, which has said it took its name from the wizards of Middle-earth in J.R.R. Tolkien’s fiction, offers advisory and education services via a collective of companies including Sygnia, BlueVoyant, Ensign InfoSecurity (EIS), Claroty, IronNet, Armis, D’Crypt and VisibleRisk.

PAI, founded in 2017 by former U.K. government cyber officials and industry experts, uses a security data science platform to provide services on contextualising large and disparate data sources to help companies detect and respond to cyber risks, the press release said.

Rashmy Chatterjee, ISTARI CEO, said in the statement: “We invested in PAI because our clients need a quantifiable perspective to cyber risk that allows them to understand their own posture better. There are also significant collaboration opportunities with the rest of our portfolio. It is a complementary fit.”

PAI founder and Chairman Sir Iain Lobban added, “ISTARI has a compelling global vision: to bring top-quality cybersecurity products and services to clients in a thoughtful and coherent way. That fits perfectly with PAI’s business — we set out to give our customers an edge, offering unique clarity around their security risks through our application of security data science, leading to prioritised actions across the client organisation. That chimes with ISTARI’s conviction that cybersecurity risk management is a business imperative that needs to be owned and driven at Board and senior executive leadership level.”

Temasek has previously said it has four key themes for its investment philosophy: transforming economies, growing middle income populations, deepening comparative advantages and emerging champions. The company also chooses investments along structural trends of longer lifespans, rising affluence and sustainable living, as well as for sharing economies and smarter systems.