(Alliance News) - Apax Global Alpha Ltd on Wednesday announced its limited partners Apax Digital Fund and AMI Opportunities Fund have entered into an agreement to invest in Guesty.
Guesty is a short-term rental and alternative property management software platform based in Tel Aviv, Israel.
The Guernsey-based private equity and derived investments-focused firm said it plans to invest EUR1.7 million in Guesty on a look-through basis, with this figure stated before taking into account any closing adjustments.
Apax Global Alpha said the investment is part of a USD50 million series D funding round led by the two limited partners.
"The funding will be used to accelerate growth in key markets as the hospitality sector emerges from the Covid-19 pandemic, enhance product capabilities to serve diverse customer segments and provide capital for future mergers and acquisitions," said Apax Global Alpha.
Shares in Apax Global Alpha were up 0.8% at 206.66 pence in London on Wednesday.
By Zoe Wickens; firstname.lastname@example.org
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