Marlene Star

Paladin Capital Group, a venture-capital firm focused exclusively on cybersecurity, achieved six exits in 2025, a difficult year for dealmaking amid tariffs and geopolitical turmoil. Not all exits were big wins – some were just acqui-hires, said Mourad Yesayan, managing director, and Chris Steed, managing director and chief investment officer, in a joint interview.

Dealmaking for North American cybersecurity companies slowed sharply in 1Q26 as buyers reassessed valuations and technology defensibility due to the impact of artificial intelligence, said executives, advisors and investors. The pullback marks a sharp reversal from 2025, which saw near-record deal volume of USD 62.9bn from several landmark transactions, including Google’s USD 32bn acquisition of Wiz, the largest cybersecurity deal ever, according to Mergermarket data.

APEX Analytics (formerly Voxtur Analytics) could pursue opportunistic acquisitions following a restructuring that culminated with a strategic investment from Hale Capital Partners, CEO Ryan Marshall said. With headquarters in London, Ontario, and Tampa, Florida, the proptech company just emerged from Canada’s CCAA restructuring process. The organization, Voxtur Analytics, was an amalgamation of several companies including ILookAbout and Boxer Analytics, Marshall said.