Evolution Equity Partners Announces the First Close of The Evolution Technology Fund L.P.

Fund Focused on Cybersecurity and Next Generation Enterprise Software and Services

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Sep 15, 2015, 10:03 ET

NEW YORK and ZURICH, Sept. 15, 2015 /PRNewswire/ -- Evolution Equity Partners is pleased to announce the first close of The Evolution Technology Fund L.P. focused on growth stage investments in cybersecurity and next generation enterprise software and services in the U.S. and Europe. Evolution has secured $70 million in commitments with an ultimate target of $125 million for the Fund. The Fund's first two investments are in high-growth cybersecurity companies: SecurityScorecard and Onapsis.

Evolution Equity Partners was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith; J.R. Smith, former CEO of AVG Technologies and cybersecurity expert and author (Wide Open Privacy: Strategies For The Digital Life; Cybermilitia: A Citizen Strategy To Fight, Win, and End War In Cyberspace); and Karel Obluk, former chief scientist, CTO and architect of the technology platform at AVG Technologies that today has over 200 million users worldwide.

Evolution Equity Partners has already made landmark software investments with a demonstrable track record of success helping exceptional entrepreneurs develop market leading companies with global reach. Current and past portfolio companies include: AVG Technologies – one of the largest security software exits in terms of market capitalization at IPO, Cognitive Security, OpenDNS, one of the largest security exits in 2015 among others.

"We are in the early innings of a secular trend in the cybersecurity space that involves increased spending by large enterprises, smaller businesses and consumers alike, an expanding threat landscape, market consolidation and demand for next generation products and services that makes this a very compelling segment for growth stage investment," said founding partner Richard Seewald. "Likewise the enterprise software and services segment is experiencing unprecedented disruptive forces – cloud, mobile, hyper connectivity - that position next generation companies well while creating attractive investment opportunities."

"Evolution's sector focus, along with our partners' deep operating, financial, technical and product development expertise allows us to take a concentrated approach in identifying leading entrepreneurial companies poised for growth," said founding partner Dennis Smith. "Management teams at growth stage companies often seek investors that can help with international expansion. Evolution has considerable experience in developing and exploiting new geographies in Europe, the United States and emerging markets."

About Evolution Equity Partners
Evolution Equity Partners, based in Zurich and New York, is an international growth stage technology investor helping exceptional entrepreneurs develop market leading companies with global reach. The firm has a focus on Information Security, Enterprise Software and Consumer/Enterprise crossover opportunities. Current and past portfolio companies include: AVG Technologies, Cognitive Security, OpenDNS, 60K, NejTV, SecurityScorecard, Onapsis and others. www.evolutionequity.com

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SOURCE Evolution Equity Partners