Apax Partners, a private equity firm that invests in and/or buys MSPs and MSSPs, has raised $1.75 billion for its new Apax Digital Fund II (also known as ADF II), the firm has disclosed.
The new fund sticks with Apax's existing investment strategy -- "targeting minority growth and growth buyout opportunities in rapidly expanding software, Internet, and tech-enabled services companies worldwide," the private equity firm says.
Noteworthy MSP & MSSP Investments & Acquisitions
Apax Partners has a lengthy track record investing in and/or acquiring MSPs, managed security services providers (MSSPs), telecom companies and cybersecurity businesses.
The company's noteworthy deals so far in 2021, as tracked by ChannelE2E and MSSP Alert, include:
- September 2021: Apax Partners and Warburg Pincus acquired T-Mobile Netherlands.
- June 2021: Apax acquired Infogain, a Microsoft Azure Expert MSP.
- April 2021: Cloud security company Coalfire, backed by Apax, acquired penetration testing and cybersecurity firm Neuralys.
- May 2021: Apax acquired Lutech.
- February 2p21: Global software consultancy ThoughtWorks, backed by Apax, acquired IT consulting firm Fourkind.
- February 2021: Apax acquired Herjavec Group, the Top 250 MSSP led by Shark Tank's Robert Herjavec.
Apax Digital Fund II: Executive Perspectives
In a prepared statement about the new fund, Marcelo Gigliani and Dan O’Keefe, managing partners of Apax Digital, commented:
“We are grateful for the confidence of our investors, many of whom backed the predecessor fund. As demonstrated by ADF I, our deep technology expertise, the strength and scale of Apax’s global platform, and the value creation driven by Apax’s operational team, allow us to empower the companies we work with to go farther, faster.”
Added Mitch Truwit, co-CEO of Apax and chairman of Apax Digital:
“We want to thank our limited partners for their support, which is a testament to the fund’s performance and the Digital team’s distinctive positioning in the market. Their experience, dedication, and ability to help companies scale and accelerate growth gives them a clear edge.”
Apax has raised $60 billion since the private equity business launched in 1969. Investments typically involve technology, services, healthcare and/or Internet/consumer opportunities. The company employees 280 people and has seven offices -- which are located in Hong Kong, London, Mumbai, Munich, New York, Shanghai and Tel Aviv. Apax headquarters is located in London.
