British Patient Capital today announces a $50.8 million commitment to the third fund by Evolution Equity Partners, a specialist technology investor focused on cybersecurity and enterprise software companies.

Evolution Equity Partners’ investments to date have included Quantexa, a global data and analytics software company that achieved unicorn status in 2023, and Panaseer, an enterprise security platform.

British Patient Capital’s investment follows a $35 million commitment to Evolution’s second fund in 2020.

Robert Greenwood, Investment Director, Funds, British Patient Capital, said: 

“Cybersecurity started as a niche subsector of technology. With wide adoption and advancement of technology, we have seen it evolve over the last twenty years as attack surfaces have expanded to become a key application across all sectors as businesses aim to protect themselves, their customers, and their product. 

This investment demonstrates the UK’s role in leading cybersecurity innovation and demonstrating its expertise within this valuable technology.”

Richard Seewald, Founder and Managing Partner, Evolution Equity Partners, said: 

“We are thrilled to be partnering with British Patient Capital and NSSIF to support UK based cybersecurity companies with capital and to equip them with the knowledge, tools and strategy to drive performance and outcome in the global market. 

Cybersecurity is mission critical to the safety of UK based enterprise, government and consumers and with the current environment demonstrating the importance of next generation technology that defends and protects our society and way of life.”

Lead image: Markus Spiske.