The investment strategy for the fund will be to reserve around 75% of the total for early-growth-stage companies, 15% for later-growth-stage startups, and 10% for earlier-stage VC tranches. The investments will be made not only in North America but also in Europe and Israel. Evolution Equity Partners, founded in 2008, manages around $2 billion in assets and has backed 60 companies to date.
Key takeaways:
- Evolution Equity Partners has launched a $1.1 billion cybersecurity and AI fund called Evolution Technology Fund III, which will invest in cybersecurity firms and startups leveraging machine learning and AI.
- The fund was oversubscribed and will pursue investments ranging from $20 million to $150 million. It has already backed fifteen leading cybersecurity companies and plans to invest in up to thirty companies.
- Evolution’s strategy will be to reserve around 75% of the $1.1 billion total for early-growth-stage companies, around 15% for later-growth-stage startups and around 10% for earlier-stage VC tranches, with investments to be made not only in North America but in Europe and Israel.
- Evolution is committed to integrating material environmental, social and governance (ESG) criteria in its investment processes and ownership practices, and actively engages with its portfolio companies to create diverse boards and leadership teams.