Kirkland & Ellis LLP advised Charlesbank Technology Opportunities Fund on the deal.
Charlesbank Technology Opportunities Fund, a fund managed by Charlesbank Capital Partners, executed its $70 million investment in Cyberbit Ltd., a leading global provider of cyber range training and simulation platforms, in a combination of a primary investment and a secondary purchase from Elbit Systems Ltd. Existing investor Claridge Israel also participated in the round.
Cyberbit plans to use the funding to accelerate the development of its cyber range product and to grow global sales and marketing to meet the increasing demand for its product. With this funding, more cybersecurity teams will benefit from hyper-realistic training through Cyberbit Range, ensuring their organizations are fully prepared for cyberattacks and addressing the global cybersecurity skill shortage.
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $6 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings and also engages in opportunistic credit and technology investments.
The Kirkland team advising Charlesbank was led by transactional partners Michael Movsovich (Picture), Dvir Oren and Dave Gusella.
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