Evolution Equity Partners has announced a commitment of $50.8 million from British Patient Capital for their third fund, which focuses on cybersecurity and enterprise software companies. This investment follows a previous commitment of $35 million to Evolution’s second fund in 2020.
As the world becomes increasingly digitized, cybersecurity has become a critical component of protecting businesses, customers, and products. The UK has emerged as a leader in cybersecurity innovation and expertise, with many companies like Quantexa and Panaseer achieving unicorn status.
Robert Greenwood, Investment Director of Funds at British Patient Capital, emphasized the importance of this technology in today’s environment. “Cybersecurity is no longer just a niche subsector but a key application across all sectors,” he said. “Businesses are striving to protect themselves, their customers, and their products.”
Richard Seewald, Founder and Managing Partner of Evolution Equity Partners, expressed excitement about partnering with British Patient Capital and NSSIF to support UK-based cybersecurity companies with capital. He underscored the importance of next-generation technology that defends and protects society and our way of life in this current environment.
Seewald emphasized that cybersecurity is crucial in safeguarding UK-based enterprises, government entities, and consumers. “With the increasing reliance on technology for communication, work, and commerce, it is essential that we invest in the best possible protection for our data,” he said.
The investment from British Patient Capital will help Evolution Equity Partners continue to support UK-based cybersecurity companies with the resources they need to develop innovative solutions that keep our society safe from cyber threats.
