Apis Partners announced the final close of Apis Global Growth Fund III and Apis Growth Markets Fund III with combined commitments totaling $1.23 billion, excluding co-investments, more than doubling the size of its predecessor fund, which closed at $563 million.
The firm said the funds closed 23% above target, supported by strong performance from previous funds that generated more than $1 billion in realizations to date. According to Apis, more than 70% of existing limited partners recommitted and increased their allocations compared to the prior fund, accounting for approximately half of the total capital raised.
The fundraising also expanded the firm’s institutional investor base with participation from sovereign and supranational investors, banks, insurers, pension funds, funds of funds, and foundations.
Fund III will focus on acquiring meaningful minority stakes in profitable, high-growth, technology-enabled financial infrastructure and financial services companies across Europe and selected global growth markets. Apis said it has already invested approximately $400 million from Fund III across seven investments.
Current investments from the fund include MoneyBox, a digital wealth management platform in the United Kingdom, Coda Recharge, a prepaid digital goods platform operating across Europe and Asia, and Thunes, a Singapore-based digital payments infrastructure company focused on cross-border money transfers and payment services.
The firm said the past year also included multiple exits, including sales of iKhokha and Baobab to Nedbank and Beltone Capital, respectively. Apis was ranked as the highest-performing European private equity firm and second globally in the 2025 HEC Paris-Dow Jones Growth Equity Investor Ranking.
Apis Partners manages approximately $2.3 billion in assets under management and focuses on financial infrastructure sectors, including payments, insurance, and lending, across Europe and growth markets.
KEY QUOTES:
“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.”
Matteo Stefanel, Co-Founder And Managing Partner, Apis Partners
“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.”
Udayan Goyal, Co-Founder And Managing Partner, Apis Partners
