Evolution Equity Partners Announces Final Close of New Cybersecurity Focused Fund

NEW YORK & ZURICH–(BUSINESS WIRE)–Evolution Equity Partners today announced the final closing of a new
fund with total capital commitments of $125 million to make investments
in cybersecurity and next generation enterprise software and services in
North America, Europe and Israel. The fund exceeded its target and is
backed by leading institutional investors, corporates, family offices
and technology entrepreneurs from the United States and Europe including
Cisco Investments, The European Investment Fund (EIF), Witelo Fund (PZU
Insurance Group), Alpha Associates among others.

The Evolution Technology Fund L.P. will make investments in the range of
$5 million to $25 million in early and growth stage companies in
cybersecurity and in companies utilizing machine learning, big data,
SaaS, mobile and the convergence of consumer and enterprise software to
build market leading platforms. Evolution sees tremendous opportunity in
Europe, the United States and Israel alike to partner and invest in next
generation cybersecurity and enterprise software companies and help
position them for international growth.

Evolution Equity Partners was founded by investor and technology
entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the
firm, and are joined by partners Karel Obluk (former CTO, AVG
Technologies), J.R. Smith (former CEO, AVG Technologies), and a
specialist team of professionals. The team members have been founders,
operating executives and investors in leading software companies around
the world and are committed to a mission of helping exceptional
entrepreneurs develop market leading companies. Current and past
portfolio companies include category leaders: AVG Technologies, OpenDNS,
Carbon Black, Cognitive Security, Security Scorecard, Onapsis,
Fortscale, LogPoint, DFLabs, Eperi and Panaseer among others.

“Evolution’s sector focus, along with the partners’ deep operating,
technical and product development expertise allows us to take a
concentrated approach in identifying leading entrepreneurial companies
poised for growth,” said managing partner Richard Seewald. “We see
tremendous opportunity in Europe, North America and Israel alike where
management teams of rapidly growing software companies seek investors
that can help with international expansion. Evolution has considerable
experience in developing and exploiting new markets internationally and
has become a preferred partner for cybersecurity and enterprise software
entrepreneurs. The closing of the Evolution Technology Fund L.P.
demonstrates the commitment of our global investors to our strategy and

“We are in the early innings of a secular trend in the cybersecurity
space that involves increased spend 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 investment,” said managing
partner Dennis Smith. “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 opportunity.”

About Evolution Equity Partners

Evolution Equity Partners, based in New York City and Zurich,
Switzerland, invests in fast growing technology companies helping
exceptional entrepreneurs develop market leading companies. The firm has
a focus on Cybersecurity and Enterprise Software and its partners have
been founders, investors and senior operating executives in leading
software companies around the world. Evolution was founded by investor
and technology entrepreneurs Richard Seewald and Dennis Smith, who
manage the firm, and are joined by partners Karel Obluk (former CTO of
AVG Technologies) and J.R. Smith (former CEO of AVG Technologies) to
lead a specialist team of professionals. Current and past portfolio
companies include: AVG Technologies (NYSE: AVG), Cognitive Security,
OpenDNS, Carbon Black, Onapsis, Security Scorecard, DFLabs, Fortscale,
LogPoint, Eperi, Panaseer among others. For more information, please
visit us at
or connect with us on Twitter @evolutionequity.

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