Investments News

Evolution Equity Partners Close $400 Million for Cybersecurity Investment in Oversubscribed Fund Raise

Evolution Equity Partners Close $400 Million for Cybersecurity Investment in Oversubscribed Fund Raise

The Firm Expands Capital Base, Team and Platform Addressing a Rapidly Growing Cybersecurity Investment Opportunity

Evolution Equity Partners announced the final closing of a new fund and total capital commitments of $400 million to make investments in cybersecurity and enterprise software companies that safeguard our digital world. The fund raise was heavily oversubscribed and is backed by a premier base of new and returning institutional investors, corporates, and family offices from the United StatesEuropeMiddle East and Asia.

The Evolution Technology Fund II L.P. will make investments in the range of $10 million to $50 million in early and growth stage companies in cybersecurity and in companies utilizing machine learning, big data and SaaS to build market leading platforms. Over three funds, the firm has backed iconic companies in this category including SecurityScorecard, Carbon Black, Arqit-Quantum, DefinedCrowd, Quantexa, DICE, Onapsis, Elliptic, Unbound, Cape Privacy, Satori Cyber, Solidus Labs, Truefort, Panaseer, AVG Technologies, DFLabs, Logpoint, Eperi, OpenDNS amongst a portfolio of 40 companies in cybersecurity.

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“This capital raise is demonstrative of the continued confidence of our global investor base in the ability of Evolution Equity Partners to invest in market leading software companies,” said Richard Seewald, Founder and Managing Partner at Evolution Equity Partners. “At the same time, we pay tribute to the founders and teams that we have parntered with that show tremendous ability to execute on visionary and game changing outcomes that help safeguard our digital world.”

Evolution Equity Partners was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm, and are joined by partners Karthik Subramanian (former head of corporate development cybersecurity, Cisco Systems), Karel Obluk (former CTO, AVG Technologies), J.R. Smith (former CEO, AVG Technologies), and a specialist team of 20 professionals based out of New YorkPalo AltoLondon and Zurich. The team members have been founders, operating executives and investors in leading software companies around the world and are committed to a mission of helping exceptional entrepreneurs develop market leading companies.

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“We are in the early innings of a secular trend in the cybersecurity space that involves increased spend by large enterprises, smaller businesses and consumers alike, a rapidly expanding threat surface, market consolidation and demand for next generation products and services that makes this a very compelling segment for investment,” said Founder and Managing Partner Dennis Smith. “We are experiencing unprecedented disruptive forces including migration to the cloud, work from home and accelerated digitalization and increasingly sophisticated adversaries. Cybersecurity companies now have boundless opportunity to embody their innovations and leverage creativity for sustainable benefit to society. Evolution Equity Partners is proud to continue to back leading cybersecurity companies.”

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