Cybersecurity software and solutions company to the alternative investment industry, Drawbridge, has launched a new module to give PE funds a single view to monitor the complete cyber risk profiles of their portfolio companies in real-time. The first offering of its kind in the industry, the module was developed in partnership with Drawbridge clients who have been confronted with a dramatic rise in cyber-attacks on their portfolio companies in terms of both size and frequency.
The accelerating frequency of cybersecurity breaches in the private equity space has resulted in increased regulatory and investor scrutiny for managers and highlighted how critical it is that limited partnerships feel confident that their assets and information are safe with the managers in which they invest. General partners must ensure they have ongoing maintenance and oversight to protect the Firm, its assets, and its confidential information, and that portfolio companies regularly test the environment and remediate vulnerabilities.
Funds can easily view the complete cybersecurity vulnerability management programme and access data and reporting both at the general practice and portfolio company level. They can also leverage the new functionality to scan for known vulnerabilities within on-site and remote environments, monitor supply chain risk with a thorough third-party due diligence process and create and track a roadmap for future improvements within the companies’ risk programmes.
“Private equity funds today face an increasingly complex threat landscape combined with escalating third party and supply chain risks. These funds must conduct thorough and continuous cyber risk assessments of their portfolio companies to protect their investments and their reputations, rather than view this critical practice as a mere point in time exercise,” says Jason Elmer, Founder and Chief Executive Officer of Drawbridge.
“Our private equity clients told us they needed to be able to monitor and receive comprehensive, real-time information on their portfolio companies’ risk posture to identify cyber threats and minimize the possibility of cyber incidents that could inhibit their portfolio company’s growth."