Apax Partners Seeks $1.5 Billion for Second Midmarket Digital Fund

Buyout firm Apax Partners is pitching its second digital fund focused on midmarket technology companies just weeks after collecting $11 billion for its latest main investment pool.

London-based Apax is seeking $1.5 billion for Apax Digital II LP and expects to hold a first close for it in May or June, according to documents presented by investment adviser Hamilton Lane and investment staff of the Pennsylvania Public School Employees’ Retirement System at a public meeting of the pension fund’s board of trustees last week.

Apax Partners is a leading European private equity firm. With more than 45 years of experience, Apax Partners provides long-term equity funding to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €4 billion.

These funds invest in fast-growing small and mid-sized companies across four sectors of specialisation: Tech & Telecom, Consumer, Healthcare and Services. Apax Partners acquired Amplitude Surgical in 2011, carried out its IPO in 2015 and has been supporting its growth, with annual sales having increased from €45m in 2010-2011 to nearly €90m at 30 June 2020.

Source: WSJ