Evolution Equity on the road for second fund – report
Venture capital investor Evolution Equity Partners is on the road for its second fund, which is targeting $250m, according to a report from Czech Republic-based publication E15.
Evolution Equity registered Evolution Technology II in January 2019. The fund is domiciled in Luxembourg.
The VC is headquartered in New York and also has offices in Zurich and Palo Alto.
Evolution Equity's predecessor vehicle and debut fund held a final close in July 2017 on $125m, following a first close in September 2015 on $70m. The fund deployed equity tickets of $5-25m, focusing primarily on series-A and early-stage cybersecurity and enterprise software companies in Europe, Israel and North America.
The fund's investments include Italy-based cybersecurity software company DFLabs. The firm backed a $5.5m series-A round in May 2016 and a $3.5m round for the company in February 2018.
The European Investment Fund has committed to Evolution Technology II. LPs in the firm's debut fund included funds-of-funds and institutional investors, such as Alpha Associates and PZU Insurance Group, according to Unquote Data.
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