Apis Partners closes $1.23bn Fund III
Fund III targets minority stakes in profitable tech-enabled financial infrastructure and services businesses.
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Apis Partners, a private equity firm investing in tech-enabled businesses in financial infrastructure and services, has announced the final close of Apis Global Growth Fund III and Apis Growth Markets Fund III (collectively Fund III). The funds raised combined commitments of $1.23 billion, excluding co-investments. This is more than double its predecessor, Apis Growth Fund II, which closed at $563 million.
Fund III will invest meaningful minority stakes in high growth, profitable financial infrastructure and services businesses in Europe and select growth markets globally. Apis has already invested approximately $400 million from Fund III across seven investments to date. These include MoneyBox, a leader in the UK digital wealth management space; Coda Recharge, a European and Asian platform for prepaid digital goods; and Thunes, a global provider of digital payments infrastructure enabling instant cross-border money transfers, payment acceptance, and acquiring services.
Matteo Stefanel, Apis co-founder and managing partner, said: “We are delighted to welcome so many new and returning investors into Fund III. We continue to see opportunities in our target segment of profitable, high growth, tech-enabled financial infrastructure and services companies. We are well on our way to replicating the success of previous funds, by leveraging our experience in this sector and bringing capital and connectivity to our portfolio companies as we invest in the conduits to global economic activity, the pipes of the finance industry.”
Udayan Goyal, Apis co-founder and managing partner, added: “We are incredibly grateful to our investors for their strong support of our sector-focused strategy, validating our belief that specialist funds outperform generalist funds. We look forward to continuing to invest in our key themes of embedded finance, democratisation of finance and the deepening of the digital economy through capital-light, high growth disruptive business models around the world whilst applying our proprietary impact methodology.”
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