British Patient Capital has announced a $50.8 million commitment to Evolution Equity Partners’ third fund. Evolution Equity Partners is a specialist technology investor that focuses on cybersecurity and enterprise software companies. Some of Evolution Equity Partners’ previous investments include Quantexa, a global data and analytics software company that achieved unicorn status in 2023, and Panaseer, an enterprise security platform.

This investment by British Patient Capital follows a $35 million commitment to Evolution’s second fund in 2020. Robert Greenwood, Investment Director of Funds at British Patient Capital, highlighted the evolution of cybersecurity over the last two decades. He emphasized how cybersecurity has become a crucial application across all sectors as businesses strive to protect themselves, their customers, and their products. This investment showcases the UK’s leadership in cybersecurity innovation and its expertise in this valuable technology sector.

Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, expressed excitement about partnering with British Patient Capital and NSSIF to support UK-based cybersecurity companies. The goal is to provide these companies with capital, knowledge, tools, and strategies to drive performance and success in the global market. Seewald stressed the critical importance of cybersecurity to the safety of UK-based enterprises, governments, and consumers. He highlighted how the current environment underscores the necessity of next-generation technology that can defend and protect society and our way of life.