(Alliance News) - Apax Global Alpha Ltd on Wednesday said Apax Digital Fund II has invested in Xeneta, an ocean and air freight rate benchmarking and market analytics platform.
Apax Global is a closed-ended investment company that invests in a portfolio of private equity funds advised by private equity firm Apax Partners LLP. It is also a limited partner in Apax Digital Fund II.
The investment is part of an overall USD80 million funding round, led by Apax Digital.
Apax Global said it expects to invest around EUR3.5 million in Xeneta, on a look-through basis.
The investor explained that Xeneta will be able to accelerate investments in platform development and continue to scale up global commercial teams.
Following the investment, Apax Digital will work closely with Xeneta to help cement its position and continue to drive growth, Apax Global added.
In 2021, Apax Global made a commitment of USD90 million to Apax Digital.
Xeneta Chief Executive & Co-Founder Patrik Berglund said: "While global trade tries to get back on its feet after a couple of years of uncertainty, it's clear that the overall logistics industry requires a re-think of how freight is bought and sold. This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market."
Shares in Apax Global were up 2.7% to 166.29 pence each in London on Wednesday morning.
By Sophie Rose; sophierose@alliancenews.com
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