# Evolution Equity Partners: portfolio, investments and team

> Evolution Equity Partners is a vc firm based in United States. 49 investments on record, 8 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/evolution-equity-partners (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Evolution Equity Partners

Last cheque observed Sep 2026; 49 cheques on record.

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Deploying now New fund $563M, Sept 2026 VC firm

Seed Series A Series B Cyber-security Identity Collaboration Tools

Follow Evolution Equity Partners and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fevolution-equity-partners)

Deploying now

**67%** of best year **8** **cheques in 12 months**, 49 on record

Since the last cheque **37** days **00** hrs **00** min **00** sec

Median round **$31M** Cheque size, as they say **$5.0M – $25M** Rounds led **7 of 49** Sole investor **4 rounds** Exits **2 from the portfolio** Mostly in **United States, 69%**

Pitch Evolution Equity Partners

## Evolution Equity Partners highlights

- 01 8 cheques in the last 12 months
- 02 Mostly Series A and Series B: 46% of its rounds
- 03 Sole investor in 4 rounds, median $8.0M
- 04 2 exits from the portfolio

## What they do

> Evolution Equity Partners is an international venture capital investor. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $5.0M – $25M as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Cyber-security Identity Collaboration Tools
- **Based in:** New York, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **49 appearances**

- **2026** 6 rounds
- **Sept** **[Island](https://millionrounds.com/company/island)** Series F · US · Bharat Fast **$400M** *Led*
- **Sept** **[Outerlimit](https://millionrounds.com/company/outerlimit)** Pre-seed · GB · AlbionVC **$16M** With 10 others
- **Jul** **[QIZ Security](https://millionrounds.com/company/qiz-security)** Seed · US **$17M** With 1 other
- **Jun** **Cyera** Growth · US · TechCrunch **$600M** *Led*
- **Mar** **[Kai](https://millionrounds.com/company/kai)** Series A · US · Ventureburn **$125M** *Led*
- **Jan** **Torq** Growth · IL · TechStartups **$140M** With 5 others
- **2025** 10 rounds
- **Nov** **[Armis](https://millionrounds.com/company/armis)** Growth · US · TechCrunch **$435M** With 7 others
- **Nov** **[Oleria](https://millionrounds.com/company/oleria)** Venture · US **$19M** With 1 other
- **Jul** **[Observe](https://millionrounds.com/company/observe)** Series C · US · TechStartups **$156M** With 6 others
- **Jul** **[Noma Security](https://millionrounds.com/company/noma-security)** Series B **$100M** With 1 other
- **May** **[Ox Security](https://millionrounds.com/company/ox-security)** Series B · US · TechCrunch **$60M** With 6 others
- **Apr** **[Phosphorus Cybersecurity](https://millionrounds.com/company/phosphorus-cybersecurity)** Venture · US **Undisclosed** With 2 others
- **Mar** **[Pentera](https://millionrounds.com/company/pentera)** Series D · US · TechCrunch **$60M** *Led*
- **Mar** **[Quantexa](https://millionrounds.com/company/quantexa)** Series F · GB · TechCrunch **$175M** With 6 others
- **Mar** **[GetReal Security](https://millionrounds.com/company/getreal-security)** Series A · US **$18M** With 5 others
- **Feb** **[Backline AI](https://millionrounds.com/company/backline-ai)** Venture · US **Undisclosed** With 1 other
- **2024** 6 rounds
- **Nov** **[Halcyon](https://millionrounds.com/company/halcyon)** Series C · US · Crunchbase News **$100M** *Led*
- **Sept** **Torq** Series C · IL **$70M** With 3 others
- **Sept** **[Arqit](https://millionrounds.com/company/arqit)** GB **$14M** With 2 others
- **Aug** **[Protect AI](https://millionrounds.com/company/protect-ai)** Series B · US **$60M** With 3 others
- **Jul** **Cytactic** Seed · IL **$16M** Sole investor
- **Mar** **Sweet Security** Series A · IL **$33M** With 1 other
- **2023** 2 rounds
- **Nov** **[Toposware](https://millionrounds.com/company/toposware)** Seed · US **$5.0M** Sole investor
- **Feb** **[Metomic](https://millionrounds.com/company/metomic)** Series A · GB **$19M** With 3 others
- **2022** 6 rounds
- **Aug** **[Talon Cyber Security](https://millionrounds.com/company/talon-cyber-security)** Series A **$100M** With 3 others
- **Jun** **[CybSafe](https://millionrounds.com/company/cybsafe)** Series B · GB **$28M** With 1 other
- **May** **[Solidus Labs](https://millionrounds.com/company/solidus-labs)** Series B · US **$45M** With 2 others
- **Apr** **[Regulatory Genome](https://millionrounds.com/company/regulatory-genome)** Seed · GB **$6.0M** With 2 others
- **Feb** **[Beyond Identity](https://millionrounds.com/company/beyond-identity)** Series C · US **$100M** With 1 other
- **Jan** **[Defined.ai](https://millionrounds.com/company/defined-ai)** Venture · US **$15M** With 3 others
- **2021** 3 rounds
- **Nov** **[SCYTHE](https://millionrounds.com/company/scythe)** Series A · US **$10M** With 3 others
- **Sept** **[TrueFort](https://millionrounds.com/company/truefort)** Series B · US **$30M** With 2 others
- **May** **[BluBracket](https://millionrounds.com/company/blubracket)** Series A **$12M** With 4 others
- **2020** 2 rounds
- **Aug** **[CalendarHero](https://millionrounds.com/company/calendarhero)** Venture **$453K** With 2 others
- **Apr** **[Arista NDR](https://millionrounds.com/company/arista-ndr)** Series C **$36M** With 2 others
- **2019** 3 rounds
- **Nov** **[ZecOps](https://millionrounds.com/company/zecops)** Seed · US · FinSMEs **$10M** With 6 others
- **Jun** **[TrueFort](https://millionrounds.com/company/truefort)** Series A · US · FinSMEs **$14M** *Led*
- **Jun** **[SecurityScorecard](https://millionrounds.com/company/securityscorecard)** Series D · US · FinSMEs **$50M** With 5 others
- **2018** 1 round
- **Apr** **[Onapsis](https://millionrounds.com/company/onapsis)** Series C · US · FinSMEs **$31M** With 2 others
- **2017** 2 rounds
- **Apr** **[LogPoint](https://millionrounds.com/company/logpoint)** Series B · DK · FinSMEs **$10M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **10 named**

DS **Dennis Stephen Smith** Managing Member of the General Partner i Filing they signed

HL **Heather Lynn Fraser** Chief Financial Officer and Chief Operating Officer i Form ADV

JS **J.R. Smith** Managing Member of the General Partner i Filing they signed

JM **Jr Marcel Smith** Partner i Form ADV

KO **Karel Obluk** Managing Member of the General Partner i Filing they signed

KS **Karthik Subramanian** Managing Member of the General Partner i Filing they signed

RM **Richard Michael Seewald** Managing Member of the General Partner i Filing they signed

SR **Stephan Riesen** Chief Financial Officer i Form ADV

TE **Taher Elgamal** Managing Member of the General Partner i Filing they signed

YB **Yuval Ben-Itzhak** Managing Member of the General Partner i Filing they signed

We also hold **27** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$2.3B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Evolution Equity Partners LLC
- **SEC number:** CRD 319748

## What they claim to have backed

From their own portfolio page (on their website)

**32** of 51 we have independently watched raise

[Anvilogic](https://millionrounds.com/company/anvilogic)[Arcticwolf](https://millionrounds.com/company/arctic-wolf)[Armis](https://millionrounds.com/company/armis-security)[Arqit](https://millionrounds.com/company/arqit)[Augmentcode](https://millionrounds.com/company/augment-code)[Beyondidentity](https://millionrounds.com/company/beyond-identity)[Blubracket](https://millionrounds.com/company/blubracket)[Cybsafe](https://millionrounds.com/company/cybsafe)[Defined](https://millionrounds.com/company/defined)[Dice](https://millionrounds.com/company/dice)[Elliptic](https://millionrounds.com/company/elliptic)[Getrealsecurity](https://millionrounds.com/company/getreal-security)[Island](https://millionrounds.com/company/island)[Legora](https://millionrounds.com/company/legora)[Metomic](https://millionrounds.com/company/metomic)[Observeinc](https://millionrounds.com/company/observe)[Oleria](https://millionrounds.com/company/oleria)[Onapsis](https://millionrounds.com/company/onapsis)[Panaseer](https://millionrounds.com/company/panaseer)[Pentera](https://millionrounds.com/company/pentera)[Phosphorus](https://millionrounds.com/company/phosphorus)[Protectai](https://millionrounds.com/company/protect-ai)[Quantexa](https://millionrounds.com/company/quantexa)[Securityscorecard](https://millionrounds.com/company/securityscorecard)[Skyfire](https://millionrounds.com/company/skyfire)[Snyk](https://millionrounds.com/company/snyk)[Soliduslabs](https://millionrounds.com/company/solidus-labs)[Sweet](https://millionrounds.com/company/sweet)[Tatum](https://millionrounds.com/company/tatum)[Toposware](https://millionrounds.com/company/toposware)[Truefort](https://millionrounds.com/company/truefort)[logo globe](https://millionrounds.com/company/ox-security) Aquasec Arize Backline Brightsec Capeprivacy Clay Countercraftsec Cyera Cytactic Doublezero Halcyon Identiq Kai Noma Reg-genome Satoricyber Silverfort Talon-sec Torq

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **2 in all**

**[OpenDNS](https://millionrounds.com/company/opendns)** Bought by [Cisco](https://millionrounds.com/fund/cisco) **$635M** Jun 2015

**[Cognitive Security](https://millionrounds.com/company/cognitive-security)** Bought by [Cisco](https://millionrounds.com/fund/cisco) **Undisclosed** Jan 2013

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$563M**

raised in Sept 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$31M** the round, not its cheque Alone, median **$8.0M**

Led 7 of 49 rounds **14%**

- **Said size:** $5.0M – $25M
- **Sole investor:** 4 rounds
- **Last cheque:** Sept 2026
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Series A said *11*
- Series B said *8*
- Series C *7*
- Seed said *7*
- Venture *5*
- Series F *3*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Insight Partners](https://millionrounds.com/fund/insight-venture-partners) 5
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 5
- [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) 3
- [Ballistic Ventures](https://millionrounds.com/fund/ballistic-ventures) 3
- [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) 3
- [Cisco Investments](https://millionrounds.com/fund/cisco-investments) 3

**Pitching Evolution Equity Partners?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Evolution Equity Partners. A count of rooms they were both in, not a relationship either has claimed.

[**Insight Partners** VC firm **5** rounds together](https://millionrounds.com/fund/insight-venture-partners)[**Sequoia Capital** VC firm **5** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Bain Capital Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/bain-capital-ventures)[**Ballistic Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/ballistic-ventures)[**Bessemer Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**Cisco Investments** Corporate VC **3** rounds together](https://millionrounds.com/fund/cisco-investments)[**Georgian** VC firm **3** rounds together](https://millionrounds.com/fund/georgian)[**406 Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/406-ventures)[**Accomplice** VC firm **2** rounds together](https://millionrounds.com/fund/accomplice)[**AlbionVC** VC firm **2** rounds together](https://millionrounds.com/fund/albionvc)[**Blackstone Group** Private equity **2** rounds together](https://millionrounds.com/fund/blackstone-group)[**Boldstart Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/boldstart-ventures)

## Recently backed

The latest companies Evolution Equity Partners put money into.

[**Island** $400M · Sept 2026](https://millionrounds.com/company/island)[**Outerlimit** $16M · Sept 2026](https://millionrounds.com/company/outerlimit)[**QIZ Security** $17M · Jul 2026](https://millionrounds.com/company/qiz-security)[**Kai** $125M · Mar 2026](https://millionrounds.com/company/kai)[**Oleria** $19M · Nov 2025](https://millionrounds.com/company/oleria)[**Observe** $156M · Jul 2025](https://millionrounds.com/company/observe)

## On podcasts

2 episodes naming Evolution Equity Partners in the title.

- [VC10X](https://millionrounds.com/podcasts/vc10x) 23 Jan 2024 · 27 min VC10X - He Invested In AVG in the early days - Richard Seewald, Founder & Managing Partner, Evolution Equity Partners With [Richard Seewald](https://millionrounds.com/person/richard-seewald) Mentions [Evolution Equity Partners](https://millionrounds.com/fund/evolution-equity-partners) Apple PodcastsShow page
- [This Much I Know](https://millionrounds.com/podcasts/this-much-i-know) 10 Aug 2022 · 41 min Karel Obluk of Evolution Equity Partners, on Cybersecurity Risks & Opportunities, Growth Investments With [Karel Obluk](https://millionrounds.com/person/karel-obluk) Mentions [Evolution Equity Partners](https://millionrounds.com/fund/evolution-equity-partners) Apple PodcastsShow page

## Quick answers about Evolution Equity Partners

### What does Evolution Equity Partners invest in?

Evolution Equity Partners invests most often at Series A and Series B (46% of the rounds on record), in sectors such as Cyber-security, Identity and Collaboration Tools.

### How active is Evolution Equity Partners?

49 investments on record, 8 of them in the last 12 months, and it led 7. The most recent was in Sept 2026.

### What has Evolution Equity Partners invested in recently?

Its most recent investments on record: Island (Series F, Sept 2026), Outerlimit (Pre-seed, Sept 2026) and QIZ Security (Seed, Jul 2026).

### How big are Evolution Equity Partners's cheques?

The median round it joins is $31M. It says it writes cheques of $5.0M to $25M.

### Does Evolution Equity Partners lead rounds?

Sometimes: it led 7 of its 49 investments on record (14%).

### Where does Evolution Equity Partners invest?

Most of the companies it backs are in the United States (69%), the United Kingdom (17%) and Israel (11%).

### Is Evolution Equity Partners investing now?

Yes: it is actively investing, with 8 investments in the last 12 months.

### Who does Evolution Equity Partners invest alongside?

Most often Insight Partners (5 rounds together), Sequoia Capital (5 rounds together) and Bain Capital Ventures (3 rounds together).

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