Business Wire India
- Fund III closes 23% above target, more than double Fund II
- Around 50% of capital raised from existing LPs increasing commitments
- Fund III to invest in tech-enabled financial infrastructure and services companies across Europe and growth markets
Apis Partners Group (UK) Limited (“Apis”), a private equity firm investing in tech-enabled businesses in financial infrastructure and services, today announced the final close of Apis Global Growth Fund III and Apis Growth Markets Fund III (the “Funds” or “Fund III”), with combined commitments of $1.23 billion excluding co-investments, more than double its predecessor, Apis Growth Fund II, at $563 million.
The Funds closed 23% above target. Reflecting the strong performance of previous funds, which have already generated in excess of $1 billion in realisations to date, over 70% of existing LPs have re-upped and increased on their previous fund’s commitments, accounting for around 50% of the total capital raised in Fund III. The significant increase in fund size allowed Apis to welcome a number of new investors to its global institutional investor base, including sovereign and supranational investors alongside banks, insurers, pension funds, funds of funds and foundations.
Fund III will build on the strength of Fund II to invest meaningful minority stakes in high growth, profitable financial infrastructure and services businesses in Europe and select growth markets globally. An active deployer of capital in the sector, Apis has 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 leading European and Asian platform for prepaid digital goods, and Thunes, a global provider of cutting-edge digital payments infrastructure enabling instant cross-border money transfers, payment acceptance, and acquiring services headquartered in Singapore.
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.”
The close of Fund III marks an active 12 months including three investments and realisations including exiting iKhokha and Baobab to Nedbank and Beltone Capital respectively. Apis was the highest ranked European private equity firm in HEC Dow-Jones’ 2025 growth capital private equity performance ranking and second globally, underscoring its consistent outperformance in delivering strong returns to investors.
Notes to Editors
Headquartered in London, Apis Partners (“The Firm”) is a private equity firm investing in tech-enabled financial infrastructure and services across Europe and growth markets, with US$2.3 billion AUM. The Firm invests in profitable, proven business models, partnering with management teams to support long-term growth and value creation.
For over a decade, we have invested in businesses across payments, insurance, and lending, that are the conduits through which the global economy flows. These businesses sit within regulatory and operational frameworks, and are attractive to strategic acquirers globally.
With over 40 professionals across three locations in London, Dubai and Singapore, responsible investment is embedded in how we operate, with ESG and impact considerations fully integrated throughout our investment process
Apis was the highest-ranked financial sector-focused firm and #2 globally in the 2025 HEC Paris-Dow Jones Growth Equity Investor Ranking.
www.apis.pe
LinkedIn: https://www.linkedin.com/company/apis-partners/
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