First Growth Funds Limited (ASX:FGF) is pleased to announce it has invested US $100,000 in cybersecurity platform GlobalGuard which utilises Artificial Intelligence and Blockchain technology for enhanced threat detection.
GlobalGuard is being developed by Australia-based MailGuard – the world’s largest privately owned email security company with customers in over 27 countries. MailGuard has collaborated with Deakin University in Melbourne, Australia to develop GlobalGuard’s proprietary Artificial Intelligence (AI) security network.
“We are impressed by the team and the vision for GlobalGuard to become the next generation of cyber security and threat detection, operating on the Blockchain,” said FGF Chair Geoff Barnes.
The investment was introduced by ASX-listed DigitalX, which is the corporate advisor to GlobalGuard. FGF was provided with a US $100,000 investment in GlobalGuard’s first funding round, which was oversubscribed.
“GlobalGuard will leverage the past seventeen years of MailGuard threat data and IP, in combination with an artificially intelligent neural network, trained to detect cybersecurity threats,” said MailGuard CEO Craig McDonald.
The GlobalGuard technology will have applications in the cryptocurrency sector to protect against cyber criminals targeting digital assets.
FGF recently raised $4.45 million in a placement to provide funding to facilitate acquisitions and investments in the Blockchain sector. The placement was led by Blockchain Global Limited. This investment in GlobalGuard is in line with the Company’s investment strategy as announced on 28 February 2018 and FGF will continue to review a number of opportunities in this sector currently being presented.