(Alliance News) - Apax Global Alpha Ltd said Tuesday that Apax Digital Fund and Apax Digital Fund II have made an investment in ClearBank Ltd, a Bristol, England-based clearing and embedded banking platform.
Apax Global Alpha is a limited partner in both funds, and on a look-through basis is set to invest around EUR5.4 million in the company. The investment is part of an overall GBP175 million equity investment, led by funds advised by Apax Digital.
The investment is expected to help accelerate ClearBank's global expansion of its clearing and banking offering, starting in Europe before moving on to North America and Asia Pacific.
Shares in Apax Global Alpha were down 0.1% at 210.83 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Apax Global Alpha (APAX)