Option3 Announces Formation of Capital Board Ahead of Major Expansion Plans

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Feb 05, 2024, 15:32 ET

The Board will be chaired by Mark Freitas, founder and Chief Executive Officer of leading insurance brokerage firm, Mark Edward Partners, and a veteran of the financial services industry.

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- Option3, a specialist cybersecurity private equity firm that combines national security heritage with expertise in the investment industry, today announced the creation of its new Capital Board. The Board will comprise financial industry veterans, each bringing a different perspective to Option3's growing array of strategic initiatives. It will be chaired by insurance industry veteran, Mark Freitas.

Mark Freitas is the founder of Mark Edward Partners, a leading international insurance brokerage firm. He is a renowned figure in the insurance industry, and over his 35-year career, has developed a particular reputation for implementing an array of innovative insurance products for the financial services community. Beyond financial services, he is also an expert in labor-related matters and has provided expert testimony in the area to the United States government.

"I am honored to take on the role of Chairman of the Capital Board at such a pivotal moment for Option3," said Mr. Freitas. "The formation of the Board comes at a time when the firm is launching a new Zero Trust platform, a new cyber buyout fund, and an entirely new initiative in the field of cyber insurance. I look forward to collaborating with the Option3 team, as well as with the other board members, which we shall be announcing shortly. "

The formation of the capital board comes at a crucial time for Option3. Last week, the cybersecurity private equity firm announced the launch of its new Zero Trust platform with an agreement to acquire Onclave Networks, which now goes to all investors for a shareholder vote. Later this year, Option3 expects to launch a cybersecurity buyout fund, focused on building other mid-market platforms, creating the next generation of American cyber champions.

"I am very pleased that Mark is joining us at this time," said Manish Thakur, Option3's Founder and Managing Partner. "The Board that he is assembling brings together experienced executives from leading Wall Street investment banks, corporate America and family office investing, and will provide critical guidance, whether in taking companies public, private fundraising, or in mergers & acquisitions. Mark also brings particular expertise in the insurance sector, and that will be invaluable given our own interest in cyber insurance."

About Option3
Option3 is a specialist cybersecurity private equity firm based in New York and Reston, Virginia that combines experience from the classified world of U.S. national security with decades of experience in investing, capital markets, and Mergers & Acquisitions. Since 2015, Option3 has invested in a variety of innovative companies across the cyber ecosystem, through a number of investment portfolios. With an in-house team of professionals that spans the C-suite, Option3 now seeks control positions in mid-market companies that it can help build into the champions of the future. Option3's investment strategy is informed by its longstanding Technology Board, which spans the former Chief Information Officer of the CIA to the former CIO at Department of Defense, and a Capital Board of leading financiers. Option3 operates its Cyber TRUST™ index, one of the only equity indices comprised purely of companies engaged in cybersecurity. For more information, please visit www.option3.com

SOURCE Option3