Private equity firm Apis Partners has closed its latest fund series on $1.23bn, exceeding its fundraising target as investor appetite for financial infrastructure and services assets remains strong, according to a report by Bloomberg.
The London-headquartered manager secured final closes for Apis Global Growth Fund III and Apis Growth Markets Fund III, raising approximately 23% above target and more than doubling the $563m collected for its previous vintage.
Apis plans to deploy the capital into minority investments in high-growth, technology-enabled financial infrastructure and financial services businesses across Europe and emerging markets, including Southeast Asia, India and Africa.
The firm is positioning itself around the continued expansion of global financial systems and digital payment networks despite ongoing geopolitical and macroeconomic uncertainty.
Apis currently manages around $2.3bn in assets and has backed businesses including payments platform KPay, UK wealth management app Moneybox and South African digital bank TymeBank.
The firm was founded by Matteo Stefanel, formerly of Abraaj Group, and Udayan Goyal, previously a banker at Deutsche Bank.
