Evolution Equity Partners, a global venture capital firm, closed a new fund, at $400m.
Backed by a premier base of new and returning institutional investors, corporates, and family offices from the United States, Europe, Middle East and Asia, Evolution Technology Fund II L.P., will make investments in cybersecurity and enterprise software companies that safeguard the digital world.
The fund will make investments in the range of $10m to $50m in early and growth stage companies in cybersecurity and in companies utilizing machine learning, big data and SaaS to build market leading platforms.
Led by Founders and Managing Partners Dennis Smith and Richard Seewald, Evolution Equity Partners makes investments in cybersecurity and enterprise software companies that safeguard its digital world.
The firm currently has over $1 billion of assets under management. Over three funds, Evolution has backed companies 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.
Seewald and Smith 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 York, Palo Alto, London and Zurich. The team members have been founders, operating executives and investors in leading software companies around the world.