Cybersecurity Fund Closes With $1.1B
Evolution Equity Partners set up its third tech fund as a pool of capital to support future cybersecurity projects
![Cybersecurity lock image Cybersecurity lock image](https://eu-images.contentstack.com/v3/assets/blt31d6b0704ba96e9d/bltad5c1e4e02531623/66213d224ca03e21b3c3a906/GettyImages-1488921075.jpg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale)
Evolution Equity Partners has closed the final round of funding for its third Technology Fund with $1.1 billion, intended to support companies developing next-generation cybersecurity tech.
According to Evolution, contributors included institutions, sovereign investors, insurance companies, foundations and high-net-worth individuals.
The funds offer Evolution a pool of capital for future investments in cybersecurity, ranging from $20 million to $150 million and for companies using machine learning and AI to build market-leading platforms.
"The overwhelming success of this fundraise was driven by strong support from both existing and new investors who recognize and support our cybersecurity-focused investment strategy,” said Richard Seewald, Evolution’s co-founder. “Given this backdrop, we remain disciplined about investment pacing and prioritizing high conviction next-generation cybersecurity investment opportunities driven by companies that are safeguarding the digital world."
Dennis Smith, Evolution’s co-founder, also said investment in the cybersecurity space was set to see a boom, thanks to a “rapidly expanding attack surface, market consolidation and demand for next-generation products and services.”
"We are experiencing unprecedented disruptive forces including the impact of AI and machine learning, accelerated digitalization and increasingly sophisticated adversaries in a highly complex geopolitical environment,” Smith added. “Cybersecurity companies have boundless opportunity to embody their innovations and leverage creativity for sustainable benefit to society."
About the Author(s)
You May Also Like