Avast

• Initially invested $100 million for a minority stake, as the company’s first institutional investor
• Assisted in the recruitment of a CFO, head of e-commerce, head of analytics and head of marketing
• Helped improve the company’s operational and financial reporting systems to better position Avast for rapid growth
• Advised on the company’s expansion into mobile and other lines of business
• Worked closely with management to build  a strong board of directors, including Ken Goldman (Yahoo!), John Schwarz (Business Objects and Symantec) and Ulf Claesson (HP)
• Helped lead a recapitalization of the business sponsored by CVC Partners in 2014
• Sourced, helped evaluate and complete several acquisitions, including providing support for Avast’s transformative $1.3 billion acquisition of AVG in 2016. This acquisition created one of the largest threat detection network in the world.

During Summit’s investment, Avast grew into a global leader in digital security products, protecting more than 435 million users from threats on the internet and the evolving IoT threat landscape. At the time of Summit’s 2019 exit, the company’s threat detection network was among the most advanced in the world, using machine learning and artificial intelligence technologies to detect and stop threats in real time. Today, Avast operates as part of Gen, a global company dedicated to powering Digital Freedom through its trusted Cyber Safety brands

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