DRAGOS DEAL CLOSES IN SEPTEMBER

We are pleased to share an important update regarding our position in Dragos, which we hold as a result of the 2024 acquisition of our Serra Capital III (SBIC) portfolio company, Network Perception.

Network Perception was spun out of the Information Trust Institute at the University of Illinois, and the Serra team had a relationship with the founders prior to the formation of the company. We were proud to lead their first institutional round of funding, and we supported the company through its Series A as well. In late 2024, Network Perception was acquired by Dragos.

On June 18, 2026, Accenture announced it has agreed to acquire a majority stake in Dragos. The transaction closed on September 17, 2026.

"We're thrilled with the outcome of the Accenture acquisition of Dragos," commented Rob Schultz, Partner with Serra. "Our original sale of Network Perception to Dragos was an all-stock transaction, and we're grateful that the combination ultimately delivered a successful liquidity event and a great outcome for Serra investors."