If AI agents can escape their sandboxes, coordinate with each other, and attack infrastructure without traditional security tools noticing, what exactly happens to the cybersecurity industry built over the last 20 years?
That question sits at the center of this conversation with Ed Sim, founder of boldstart ventures. But it quickly opens into a much bigger one: how do you invest or build a company when the technology is moving faster than the markets around it?
Ed has spent 30 years in venture capital, and his answer is not to wait for certainty. He talks about backing AI security before ChatGPT existed, why some of the best startup ideas should sound almost absurd at first, and why founders building around what AI can do today may already be too late.
We also get into the extraordinary new economics of venture: $65M seed rounds, multi-stage funds fighting to get into companies at inception, talent becoming scarcer than capital, and why Ed believes this may still be the golden age to start a company.
Inside The Episode:
Why Ed believes you may need to “forget about everything that happened the last 20 years” in cybersecurity
What autonomous AI agents change about both cyber attacks and defense
Why the next generation of security infrastructure may need to operate at “swarm scale”
How boldstart ventured backed AI security before ChatGPT existed
Why talking to dozens of customers can actually be the wrong diligence strategy at inception
What Ed looks for in founders before the market exists
What is driving $50 million and $100 million early-stage funding rounds
How dramatically seed-round economics have changed since 2023
What smaller venture funds need to decide about fund size, ownership and leading rounds
Why Ed calls this the “golden age” for founders
Why talent may now be scarcer than capital in AI
Boldstart’s growing bets in robotics, physical AI and bioAI
The new cyber, robotics and biotech opportunities Ed believes could define the next several years
Watch Full Episode On YouTube
About Ed Sim
Ed Sim is the founder of boldstart ventures, a $1.1 billion venture firm that leads rounds at inception—always serving as the first check for technical founders. Since 2010, boldstart has backed what’s next across cybersecurity, AI infrastructure, physical AI, agents, and the occasional wonderfully weird idea. Ed’s investments include Snyk, Protect AI—acquired by Palo Alto Networks—Keycard, Spectro Cloud, and Uare.ai, while the broader boldstart portfolio includes Clay, Generalist AI, and Topos Bio. This is Ed's 30th year as a venture capitalist!
Connect with Ed Sim: https://www.linkedin.com/in/edsim/
About the Host
Nilanjana Bhowmik is a General Partner at Converge and host of the Post Money Podcast, where she speaks with founders, investors, and industry leaders shaping the future of technology, innovation, and venture capital. Through in-depth conversations, Post Money Podcast explores the ideas, decisions, and trends driving the next generation of transformative companies.
Connect with Nilanjana Bhowmik: linkedin.com/in/nilanjanabhowmik
Converge VC website: converge.vc
