Krystal H

(Reuters] – Liberty Strategic Capital was founded in Washington D.C. by Steven Mnuchin. The private equity fund is based in Washington D.C. and acquired a controlling interest Zimperium’s enterprise security business for $525 million.

This deal marks Liberty Strategic Capital’s first major stake purchase since last year. It also managed late-stage financing rounds for cybersecurity companies BlueVoyant & Cybereason.

SoftBank Corp. has been an investor at Zimperium ever since 2017. It will be continuing as minority owner.

Zimperium was founded in 2010 and offers mobile security solutions on iOS, Android, Chromebooks, and Chromebooks. This company is available to enterprises in all industry sectors, such as healthcare, financial services, and defense.

PitchBook data shows that the Dallas, Texas-based company has received over $100,000,000 in equity and loan financing from Warburg Pincus investors. According to the company, it has seen a 53% increase in its annual revenue last year and continued growth during the pandemic.

Shridhar Mittal (chief executive of Zimperium) said, “It has been a huge tailwind for us because workers are beginning to work more remotely, and they’re also starting to do more work on their mobile devices.”

Mnuchin is a former executive at Goldman Sachs (NYSE :), who was Treasury Secretary under the Trump administration. He will now chair Zimperium’s board of directors.

Mnuchin was able to raise $2.5 billion last year for Liberty Strategic Capital. The company focuses on investments in cybersecurity, media and payment.

He said he did not invest in former President Donald Trump’s new media venture Trump Media & Technology Group (TMTG), but signed up for the wait list for the Truth Social app it launched in beta version last month. Since the October announcement of the deal, TMTG is currently in the process to merge with Digital World Acquisition Corp.