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– Evolution Equity Partners raises $1.1 billion and doubles its investment in cybersecurity in the UK and EU
Evolution Technology Fund III LP is the largest dedicated cybersecurity fund raised to date
Growth and early stage investor committed to investing in UK and EU based cybersecurity companies safeguarding the digital world
LONDON, April 25, 2024 /PRNewswire/ — Evolution Equity Partners announced the final closing of Evolution Technology Fund III, LP on April 16, 2024 and total capital commitments of $1.1 billion to support visionary entrepreneurs building companies next-generation cybersecurity solutions that safeguard the digital world. The fundraising was oversubscribed by new and existing limited partners representing a diversified mix of leading institutions, sovereign investors, insurance companies, endowments, foundations, funds of funds, family offices and high net worth individuals. The capital commitment includes funding from British Patient Capital, the UK’s largest domestic investor in businesses and business growth opportunities and a subsidiary of the British Business Bank.
The committed capital provides Evolution Equity Partners with a pool of dedicated capital to pursue investment opportunities ranging from $20 million to $150 million in cybersecurity. The company’s strategy is to build a well-diversified portfolio across key cybersecurity startup ecosystems in the US, UK, EU and Israel. Significant investments made to date by Evolution in the UK and EU include: AVG Technologies, Quantexa, Panaseer, DF Labs, Logpoint, CounterCraft, Cognitive Security, Eperi, Cybsafe, Tatum, Elliptic, Arqit, Metomic, among 60 supported portfolio companies that the company has.
Richard Seewald, founder and managing partner of Evolution Equity Partners, said: “Over the last 25 years, we have witnessed first-hand the strong pool of entrepreneurial cybersecurity talent in the UK and EU. Firstly, while building AVG Technologies, a European-based cybersecurity company that Our team went public on the New York Stock Exchange in 2012 and subsequently numerous European companies that we have helped scale For cybersecurity companies based in the United Kingdom and. EU companies looking to build and grow internationally, Evolution is the ideal partner to equip businesses with the knowledge, tools and strategy to drive performance and results. The experience Evolution has in Europe is unparalleled in the industry. “We look forward to working with the best entrepreneurs and building European champions.”
Christine Hockley, Managing Director of Funds at British Patient Capital, said: “Evolution Equity Partners’ cybersecurity specialization, coupled with their proven investment credentials, positions them to successfully back the UK’s leading technology companies as they scale. “We are delighted to invest in this fund, which aligns with our objective of supporting promising companies to access the long-term financing they need to achieve their growth potential.”
Evolution Equity Partners was founded by technology investors and entrepreneurs Richard Seewald and Dennis Smith, who manage and direct the company, and a dedicated team of 30 professionals based in New York City, Palo Alto, London and Zurich. Team members have been founders, operating executives, and investors in leading software companies around the world and are committed to the mission of helping exceptional entrepreneurs build market-leading companies. Evolution Equity Partners’ Cybersecurity Growth Centers of Excellence, the company’s high-performance engine, have a clear goal: to provide the definitive operational playbook on how to effectively take cybersecurity startups from idea to IPO. and help equip companies with the knowledge, tools and strategy to drive performance.
Acerca de Evolution Equity Partners
Evolution Equity Partners, based in New York City, Palo Alto, London and Zurich, makes investments in fast-growing cybersecurity software companies safeguarding our digital world. The company was founded by technology investors and entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the company and their partners have been involved as founders, investors and senior operating executives in leading software companies around the world. Evolution currently has more than $2 billion in assets under management across a growing portfolio of market-leading companies. Evolution partners include Richard Seewald, Dennis Smith, Taher Elgamal, Aron Khurana, J.R. Smith, Karthik Subramanian, Yuval Ben-Itzhak and Karel Obluk. Learn more at www.evolutionequity.com and follow us on LinkedIn and Twitter.
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