Evolution Equity Partners Closes Largest Cybersecurity Fund at $1.1 Billion

Evolution Equity Partners has closed the Evolution Technology Fund III, LP at $1.1 billion, making it the largest dedicated cybersecurity fund raised to date. The fund raised capital commitments from a diverse group of investors and will be used to back visionary entrepreneurs building next generation cybersecurity companies.

The firm plans to invest in cybersecurity and companies using machine learning and AI, with opportunities for investment ranging from $20 million to $150 million.  Significant investments have already made in 60 portfolio companies, including: SecurityScorecard, Arctic Wolf,  Protect AI,  Talon Cyber,  Torq,  Snyk, Sweet Security, Aqua Security, Oleria, Halcyon, Cybsafe, Phosphorus, DefinedAI, Carbon Black, Panaseer, AVG Technologies, OpenDNS, Pentera, and Quantexa.

The firm, founded by Richard Seewald and Dennis Smith, has a team of 30 professionals across New York City, Palo Alto, London, and Zurich, with a mission to help exceptional entrepreneurs develop market leading companies. The firm currently has over $2 billion of assets under management. Read the full press release here.