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Laxman Pai, Opalesque Asia: Cybersecurity-focused private equity firm Evolution Equity Partners announced that it raised $1.1 billion of capital commitments for cybersecurity and AI fund, the third such fund in Evolution's history.
The growth capital investment firm based in NYC said in a media release that Evolution Technology Fund III was oversubscribed by existing and new limited partners representing a diversified mix of leading institutions, sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices, and high-net-worth individuals.
According to the statement, the capital committed gives Evolution Equity Partners a dedicated pool of capital to pursue opportunities for investment ranging from $20 million to $150 million in cybersecurity and in companies utilizing machine learning and AI to build market-leading platforms.
"Significant investments made to date by Evolution include 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 amongst 60 portfolio companies the firm has backed," it said.
Richard Seewald, Founder, and Managing Partner at Evolution Equity Partners said, "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 ...................... To view our full article Click here
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