Evolution

It’s against this backdrop that Evolution Equity Partners, a growth capital investment firm based in NYC, on Tuesday launched a $1.1 billion cybersecurity and AI fund, the third such fund in Evolution’s history. The fund, called Evolution Technology Fund III, was oversubscribed, with participation from existing and new endowments, sovereign investors, insurance companies, foundations, fund of funds, family offices and angels. “The Evolution Technology Fund III has already backed fifteen leading cybersecurity companies, initiating its investment period over 12 months ago,” Seewald said. “We believe that provides private markets investors with diversified exposure to cybersecurity opportunities.”ESG will be another factor, according to Seewald. Evolution’s 30-person teams manages around $2 billion in assets and has backed 60 companies to date; its previous fund was $400 million.