Cyberstarts launches 300-million-dollar fund to help startups keep employees

Cyberstarts has introduced a 300 million dollar fund to help its cybersecurity startups keep talented employees. The new setup allows staff to sell a portion of their company shares every year, even if the startup hasn’t gone public or been sold. This means they can get some money without quitting or changing jobs.

Each startup will have its own share of the fund, and founders will decide who is eligible. The idea is to reward employees for staying long term and to reduce the pressure to leave for better pay elsewhere.

With fewer IPOs and big exits in the current market, giving employees early access to money makes it easier for startups to hold on to talent. Cyberstarts has already raised over one billion dollars and backed around 30 companies, making it well placed to support this plan.

Source: reuters.com