Key Takeaways
- • YL Ventures achieved top decile ranking (top 10%) in PitchBook's 2025 Global Manager Performance Score League Tables for the fourth consecutive year, placing among 368 global venture capital fund families.
- • The firm's PitchBook Performance Score has increased steadily over three years: 70.5 (2022), 72.6 (2023), 75.8 (2024), and 76.7 (2025), demonstrating consistent performance improvement.
- • YL Ventures is the only cybersecurity-exclusive firm among all venture capital managers in the top decile this year, establishing a competitive differentiation in a specialized investment thesis.
- • PitchBook's scoring framework weights fund maturity, distributed-to-invested capital ratio (DPI), and peer-relative returns, making the ranking particularly relevant to institutional allocators evaluating fund performance.
- • Managing Partner Yoav Leitersdorf attributed sustained performance to founder proximity, ecosystem engagement, and long-term technology focus, positioning the firm to capitalize on AI-driven market transformation in cybersecurity.
Summary
YL Ventures, a San Francisco-based venture capital firm focused exclusively on cybersecurity, has secured a position in the top 10% of global venture capital managers for the fourth straight year according to PitchBook's 2025 Global Manager Performance Score League Tables released on August 24, 2026. The ranking evaluated 368 fund families globally, with YL Ventures standing as the sole cybersecurity-dedicated firm achieving top decile status this year.
The firm's performance trajectory reflects sustained excellence. Its PitchBook Performance Score rose from 70.5 in 2022 to 76.7 in 2025, marking consecutive annual increases over the three-year measurement period (72.6 in 2023 and 75.8 in 2024). This upward progression distinguishes YL Ventures in a competitive market where most fund performance metrics fluctuate based on vintage year, market conditions, and portfolio maturity.
PitchBook's scoring methodology carries significant weight among institutional allocators. The framework benchmarks fund families against peer groups stratified by investment strategy and vintage year, with scoring adjusted for fund age and return distribution relative to benchmarks. The system particularly emphasizes DPI (distributed-to-invested capital ratio), rewarding funds that have successfully returned capital to investors—a metric institutional LPs prioritize when evaluating fund manager competency and liquidity.
According to Yoav Leitersdorf, Managing Partner at YL Ventures, the consistent ranking reflects the firm's operational philosophy: "Sustained performance in venture capital comes from proximity, being close to the founders, close to the ecosystem and close to the technology through the years of building that follow." Leitersdorf emphasized that the firm's focus has shifted toward emerging companies positioned to benefit from AI-driven transformation in cybersecurity markets, where technology adoption is accelerating faster than historical precedent.
The recognition underscores YL Ventures' strategic positioning in a high-growth vertical. As cybersecurity spending continues to expand driven by regulatory requirements, enterprise digital transformation, and emerging AI-related threats, the firm's specialized focus and demonstrated track record position it favorably for continued capital deployment and institutional LP commitments.
The firm's performance trajectory reflects sustained excellence. Its PitchBook Performance Score rose from 70.5 in 2022 to 76.7 in 2025, marking consecutive annual increases over the three-year measurement period (72.6 in 2023 and 75.8 in 2024). This upward progression distinguishes YL Ventures in a competitive market where most fund performance metrics fluctuate based on vintage year, market conditions, and portfolio maturity.
PitchBook's scoring methodology carries significant weight among institutional allocators. The framework benchmarks fund families against peer groups stratified by investment strategy and vintage year, with scoring adjusted for fund age and return distribution relative to benchmarks. The system particularly emphasizes DPI (distributed-to-invested capital ratio), rewarding funds that have successfully returned capital to investors—a metric institutional LPs prioritize when evaluating fund manager competency and liquidity.
According to Yoav Leitersdorf, Managing Partner at YL Ventures, the consistent ranking reflects the firm's operational philosophy: "Sustained performance in venture capital comes from proximity, being close to the founders, close to the ecosystem and close to the technology through the years of building that follow." Leitersdorf emphasized that the firm's focus has shifted toward emerging companies positioned to benefit from AI-driven transformation in cybersecurity markets, where technology adoption is accelerating faster than historical precedent.
The recognition underscores YL Ventures' strategic positioning in a high-growth vertical. As cybersecurity spending continues to expand driven by regulatory requirements, enterprise digital transformation, and emerging AI-related threats, the firm's specialized focus and demonstrated track record position it favorably for continued capital deployment and institutional LP commitments.
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