Advanced Technology Ventures hit by a ransomware attack

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SaaS News - Advanced Technology Ventures hit by a ransomware attack (source: SaaS Industry)
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The Maine attorney’s office was approached by Advanced Technology Ventures (ATV), a VC firm hit by ransomware, in July. According to a post on the Maine attorney general’s data breach reporting portal, the incident affected 300 persons.


According to TechCrunch, Advanced Technology Ventures (ATV), a VC firm based in Silicon Valley that was hit by a ransomware attack in July, has sent a letter to the Maine attorney’s office. The attackers had obtained personal information from the company’s private investors, or limited partners (LPs), in the assault.

In that letter, ATV, which has more than $1.8 billion in assets under its management, has said that it became aware of the assault on July 9 after the ransomware encrypted its servers containing financial data. By July 26, the ATV had discovered that data had been taken from the servers before the files were encrypted, a common “double extortion” method employed by ransomware gangs, who then threaten to expose the files online unless the ransom is paid.

According to the letter, ATV thinks the assault took the names, email addresses, phone numbers, and Social Security numbers of individual investors in ATV’s funds. According to a post on the Maine attorney general’s data breach reporting portal, the incident affected 300 people, including one in Maine.

The attack was reported to the FBI, according to ATV. But neither the FBI nor ATV’s managing director Mike Carusi has responded to TechCrunch’s questions.

The venture capital business was formed in 1979 and is located in Menlo Park, California, with offices in Boston. It focuses on technology, communications, software and services, and healthcare technologies. 

Many of the previous decade’s companies, such as software library Fandango, Host Analytics (now Planfun), and Apptegic, were founded by the company (now Evergage). Tripwire, which was eventually sold to cybersecurity company Belden for $710 million; Cedexis, a network traffic monitoring startup purchased by Cisco in 2018; and Actifo, which was sold to Google in 2020, are among its more recent investments.

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