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Update: CrowdStrike CTO Steps Down, Launches New Venture Capital Fund

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(Updates with CrowdStrike's response in the second paragraph and stock move in the last paragraph.)

CrowdStrike's (CRWD) global Chief Technology Officer Elia Zaitsev has stepped down from his role to launch an early-stage venture capital fund focused on cybersecurity, Zaitsev said Thursday in a LinkedIn post.

A CrowdStrike spokesperson confirmed the development, saying, "Elia and CrowdStrike mutually agreed that this was the right time for a transition. We are grateful for his contributions and wish him every success in his new venture."

Zaitsev said he co-founded Cognition Venture Partners with former CrowdStrike colleagues Gur Talpaz and Tayler Sipperly.

Cognition will selectively support a small number of cybersecurity companies each year, he said in the post.

Cognition is targeting a $170 million fund, according to Axios, which first reported about the new venture firm.

Shares of CrowdStrike were down around 4% in Thursday trading.

Price: $193.67, Change: $-7.96, Percent Change: -3.95%

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