Evolution Equity Partners

Founders and Managing Partners Richard Seewald and Dennis Smith lead the firm. The broader partnership includes several individuals with direct cybersecurity operating backgrounds. The investment team operates from offices in New York, Zug and London.

Evolution Equity invests across multiple stages, from seed through growth. The firm also pursues direct co-investments and direct secondary transactions, maintaining flexibility to support companies from early formation to pre-IPO rounds.

The firm concentrates on cybersecurity and adjacent enterprise software, with portfolio holdings that span cloud security, AI and machine learning security, decision intelligence, security validation and DevSecOps. It does not publicly list sectors it avoids, but the portfolio reflects a deliberate cybersecurity-only mandate.

The firm leverages its founding team’s operational networks and an annual Presidents Forum that convenes cybersecurity executives and global leaders. Its transatlantic presence across New York, Zug and London provides direct access to both US and European technical founder communities.

No philanthropic or foundation structure has been publicly disclosed. The firm operates as a specialist venture capital manager with no stated adjacent charitable vehicles.

The firm explicitly lists co-investment as part of its strategy and has participated in large syndicated rounds, including Armis’s $435 million raise. Evolution Equity’s operator-heavy partnership makes it a natural co-investor in rounds where technical diligence is a deciding factor.

The firm does not publicly disclose its limited partner base or the origin of its assets under management. As a venture capital manager, it raises capital from institutional investors, though specific LPs have not been named.