Evolution Equity Partners amasses $1.1bn for third tech fund

• Evolution Technology Fund III’s LPs include sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices, and high-net-worth individuals
• The fund will enable Evolution to make investments ranging from $20 million to $150 million
• Based in New York City, Palo Alto, London and Zurich, Evolution currently has over $2 billion of assets under management

Evolution Equity Partners has closed its third tech fund at $1.1 billion.

The fund will focus on next-generation cybersecurity companies.

Evolution Technology Fund III’s limited partners include sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices, and high-net-worth individuals.

The fund will enable Evolution to make investments ranging from $20 million to $150 million.

On the fundraising, Richard Seewald, founder and managing partner at Evolution Equity Partners, said in a statement, “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 and our ability to build value and generate liquidity across market cycles. In one of the toughest ever fundraising environments, we are grateful for the tremendous support.”

Evolution Equity Partners was founded by Richard Seewald and Dennis Smith, who manage and lead the firm. The growth equity firm was founded in 2008.

Based in New York City, Palo Alto, London and Zurich, Evolution currently has over $2 billion of assets under management.