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A Silicon Valley VC company with $1.8B in property turned into hit through ransomware

advanced technology Ventures, a Silicon Valley task capital firm with greater than $1.eight billion in assets beneath its administration, became hit via a ransomware attack in July that saw cybercriminals steal own information on the business's inner most investors, or limited partners (LPs).

In a letter to the Maine legal professional regular's workplace, ATV stated it became aware of the attack on July 9 after its servers storing financial information had been encrypted by way of ransomware. by way of July 26, the ATV discovered that statistics had been stolen from the servers before the files had been encrypted, a typical "double extortion" tactic used via ransomware companies, which then threaten to submit the info online if the ransom to decrypt the data is not paid.

The letter spoke of ATV believes the names, e mail addresses, telephone numbers and Social protection numbers of the individual traders in ATV's dollars had been stolen in the assault. Some 300 individuals had been suffering from the incident, together with one adult in Maine, in keeping with a listing on the Maine lawyer conventional's information breach notification portal.

venture capital companies regularly do not disclose all of their LPs — the traders who've thrown millions into an funding vehicle — to the general public. a couple of pre-accepted names can be included in an announcement, however normal, an organization's private traders are trying to stay that means: private. The causes differ, but it comes down to secrecy and a degree of aggressive abilities: The firm might also no longer need opponents to understand who is backing them, and an investor may now not desire others to grasp where their cash goes. This certain assault likely stole key counsel on a hush-hush a part of how undertaking funds works.

ATV referred to it notified the FBI in regards to the assault. A spokesperson for the FBI declined to comment when reaced. ATV's managing director Mike Carusi did not reply to questions sent with the aid of TechCrunch on Monday.

The venture capital enterprise, based in Menlo Park, California with places of work in Boston, changed into established in 1979 and invests mostly in know-how, communications, software and services, and healthcare expertise. The company became an early investor in many of the startups from the remaining decade, like software library Fandango, Host Analytics (now Planfun) and Apptegic (now Evergage). Its more fresh investments consist of Tripwire, which became later sold to cybersecurity business Belden for $710 million; Cedexis, a community site visitors monitoring startup received through Cisco in 2018; and Actifo, which turned into sold to Google in 2020.

Natasha Mascarenhas contributed reporting. send counsel securely over sign and WhatsApp to +1 646-755-8849. that you may also send TechCrunch data or documents the use of our SecureDrop.


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