With substantial investment in the Evolution Technology Fund III, the firm targets early and growth-stage cybersecurity ventures in Europe

In a significant move to strengthen cybersecurity infrastructure across Europe, Evolution Equity Partners has successfully closed its Evolution Technology Fund III, LP, amassing a robust $1.1 billion in capital commitments. Announced on April 16, 2024, the fund is poised to play a pivotal role in fostering the development of cutting-edge cybersecurity technologies within the UK and EU markets.

Evolution Equity Partners, known for their strategic investments in cybersecurity, is set to deploy this new capital in funding ventures ranging from $20 million to $150 million. The focus remains steadfast on identifying and nurturing entrepreneurial talent poised to revolutionize cybersecurity practices and technologies. The fund was met with enthusiastic reception, achieving oversubscription from a diverse group of investors including leading institutions, sovereign investors, and high-net-worth individuals. Notably, significant backing comes from British Patient Capital, affirming strong domestic support for technological growth.

The fund underscores Evolution’s commitment to cultivating a rich ecosystem of cybersecurity innovations. To date, significant investments by Evolution in Europe have spanned various sectors, supporting companies like AVG Technologies, Quantexa, and Elliptic, among others. This broad portfolio reflects the firm’s strategy to build a diversified investment base that spans several key cybersecurity hubs including the United States, United Kingdom, EU, and Israel.

Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, highlighted the rich vein of cybersecurity talent in the UK and EU, reminiscing about his experiences from taking AVG Technologies public on the NYSE to nurturing numerous European firms. “For UK and EU-based cybersecurity companies aiming to scale globally, Evolution offers unparalleled expertise and resources to maximize their market potential,” Seewald stated, underscoring the firm’s dedication to turning local startups into global leaders.

Christine Hockley, Managing Director of Funds at British Patient Capital, expressed her enthusiasm for the partnership, noting Evolution’s specialized focus and proven track record in cybersecurity. This investment aligns perfectly with British Patient Capital’s goals to enable promising UK tech companies to access the necessary resources to expand and succeed.

Founded by Richard Seewald and Dennis Smith, Evolution Equity Partners operates from New York City, Palo Alto, London, and Zurich. The firm is backed by a team of 30 professionals who bring a wealth of experience as founders, investors, and senior executives in the tech sector. Evolution aims to assist promising entrepreneurs in progressing from startup phase to public offerings, providing not just capital but strategic guidance crafted from deep industry expertise.

As digital threats grow more sophisticated, the need for robust cybersecurity solutions becomes increasingly critical. Evolution Equity Partners’ latest fund is more than an investment in companies; it’s an investment in securing the digital future of Europe and beyond. With over $2 billion in assets under management and a portfolio of market leaders, Evolution is set to make significant strides in shaping the cybersecurity landscape globally.