Evolution Equity Partners, a private investment firm focused on cybersecurity software companies, has closed Evolution Technology Fund III, with total capital commitments of $1.1bn.
The fundraise was oversubscribed and attracted support from existing and new LPs representing institutions, sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices and high-net-worth individuals.
The capital commitment includes funding from British Patient Capital, a subsidiary of the British Business Bank and the UK’s largest domestic investor in venture and venture growth opportunities.
The capital committed gives Evolution Equity Partners a dedicated pool of capital to pursue investments ranging from $20m to $150m.
According to a press release, the firm’s strategy is to build a well-diversified portfolio across key cybersecurity company building ecosystems in the US, the UK, the 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 and Metomic.
