First female-led solo GP fund of funds out of the GCC region

DUBAI, UAE, April 25, 2024 /PRNewswire/ — Amkan Ventures, officially launched today and is announcing a $10M Fund of Funds (FoF) dedicated to backing emerging venture managers in the US. The new FoF is building a portfolio of a dozen funds across tech-enabled industries. Amkan Ventures focuses solely on early-stage funds between $5M and $50M that have the potential to generate outsize returns through concentrated portfolio construction. The firm has already made its first investment in an oversubscribed first-time manager.

Raida Daouk, Founder and Managing Partner of Amkan Ventures, is the first female-led solo GP based in the Gulf region to launch a fund of funds. The geographical barrier along with time differences often hinders GCC-based LPs from forging crucial connections and gaining comprehensive insights into the myriad investment prospects available in the US market. Daouk’s goal is clear: to seize the vast potential and exponential growth of the US venture capital landscape on behalf of her LPs, ensuring they capitalize on the abundant opportunities also abroad.

About Raida
Raida started her career in banking before moving to the investment team of a first-time venture fund, where she learned the ropes of Venture. Recognizing a void in the market for personalized venture consulting services, she established Amkan Advisory, a boutique consultancy firm specializing in assisting family offices and high-net-worth individuals in identifying venture funds that align with their specific strategies. Given that first-time fund managers often possess the most aligned incentives with their investors, Daouk understood the significant value they bring to the venture capital landscape. However, she also understood the reluctance of family offices to commit capital to relatively unproven managers. By curating a portfolio of carefully selected funds, she aims to mitigate the perceived risk associated with investing in first-time managers while still accessing the high-growth potential of emerging ventures.

About Amkan Ventures
Amkan Ventures was born to provide access to LPs seeking investments in emerging managers beyond their direct reach. The firm targets small Funds I and II led by ambitious managers who embrace a conviction-driven approach. With a laser focus on delivering returns, facilitating access, and nurturing opportunities within the venture arena, Amkan Ventures is committed to unlocking the full potential of its investment landscape.

Press Contact:
Raida Daouk
[email protected]
(617) 515-5479

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The Evolution Technology Fund III LP is the largest dedicated cybersecurity fund raised to date.

Growth and early growth stage investor committed to investing in UK and EU based cybersecurity companies safeguarding the digital world.

LONDON, April 25, 2024 /PRNewswire/ — Evolution Equity Partners announced the final closing of Evolution Technology Fund III, LP on April 16^th, 2024, and total capital commitments of $ 1.1 Billion to back visionary entrepreneurs building next generation cybersecurity companies that safeguard the digital world. The fund raise was oversubscribed by existing and new limited partners representing a diversified mix of leading institutions, sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices, and high-net-worth individuals. The capital commitment includes funding from British Patient Capital, the UK’s largest domestic investor in venture and venture growth opportunities and a subsidiary of the British Business Bank.

The capital committed gives Evolution Equity Partners a dedicated pool of capital to pursue opportunities for investment ranging from $20 million to $150 million in cybersecurity. The firm’s strategy is to build a well-diversified portfolio across key cybersecurity company building ecosystems in the United States, United Kingdom, the EU and Israel. Significant investments made to date by Evolution in the United Kingdom and EU include: AVG Technologies, Quantexa, Panaseer, DF Labs, Logpoint, CounterCraft, Cognitive Security, Eperi, Cybsafe, Tatum, Elliptic, Arqit, Metomic amongst 60 portfolio companies the firm has backed.

Richard Seewald, Founder and Managing Partner at Evolution Equity Partners, said, ” Over the past 25 years, we have witnessed firsthand the strong cybersecurity entrepreneurial talent pool in the UK and EU. First, while building AVG Technologies, a European based cybersecurity company that our team took public on the New York Stock Exchange in 2012 and thereafter in numerous European companies we have helped scale. For UK and EU based cybersecurity companies looking to build and grow internationally, Evolution is the ideal partner to equip companies with the knowledge, tools and strategy to drive performance and outcome. The expertise that Evolution has on the ground in Europe is unparalleled in the industry. We look forward to working with best of breed entrepreneurs and building European champions.”

Christine Hockley, Managing Director, Funds at British Patient Capital, said: “Evolution Equity Partners’ cybersecurity specialism coupled with proven investment credentials positions them to successfully support the UK’s leading technology companies as they scale. We are delighted to invest in this fund, which aligns with our objective of supporting promising companies to access the long-term financing they need to fulfil their growth potential.”

Evolution Equity Partners was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm, and a specialist team of 30 professionals based out of New York City, Palo Alto, London and Zurich. The team members have been founders, operating executives and investors in leading software companies around the world and are committed to the mission of helping exceptional entrepreneurs develop market leading companies. Evolution Equity Partners’ Centers of

Excellence for Cybersecurity Growth, the firm’s high performance engine, has a clear goal: To provide the ultimate operating playbook on how to effectively take cybersecurity startups from idea to IPO and help equip companies with the knowledge, tools and strategy to drive performance.

About Evolution Equity Partners

Evolution Equity Partners, based in New York City, Palo Alto, London and Zurich, makes investments in rapidly growing cybersecurity software companies that safeguard our digital world. The firm was founded by investor and technology entrepreneurs Richard Seewald and Dennis Smith, who manage and lead the firm and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Evolution currently has over $2 billion of assets under management in a growing portfolio of market leading companies. The Evolution partners include Richard Seewald, Dennis Smith, Taher Elgamal, Aron Khurana, J.R. Smith, Karthik Subramanian, Yuval Ben-Itzhak and Karel Obluk. Learn more at www.evolutionequity.com and follow us at LinkedIn and Twitter.

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