Apax Partners & Co. Ventures is becoming an almost permanent presence in the European fund-raising market. At press time, the firm was preparing to raise Apax Europe IV, LP, a euro 1.8 billion ($2.1 billion) fund, principally for investment in the U.K. and Germany.
It has taken the group little more than a year to deploy the GBP310 million ($515 million) Apax UK IV Fund and its parallel investment pool, and the DM260 million ($157 million) Apax Germany II Fund, which together comprised Apax Europe III, LP.
Like its predecessors, the new fund will build a portfolio that mixes early-stage, buyout and development capital investments in Apax’s preferred sectors of biotechnology, information technology, telecommunications, retail and media.
Further details were unavailable at press time.