FUNDRAISING NEWS | December 02, 2024
European private equity firm Apse Capital secured capital commitments totalling €350M (~$368.9M) on the final close of its continuation fund earmarked for three UK-based tech companies from its 2019 vintage bridge financing vehicle, Apse Capital Bridge Fund.
JP Morgan Asset Management led the investors in the fundraising, according to a November 27 news release. Pledges also came from secondary and primary investors, with “substantial” backing from Apse’s existing limited partners.
The continuation fund is designed to finance the acquisitions of TerraQuest, a software solutions and technical data services provider; Kallidus, a SaaS-enabled HCM platform; and Ultima Business Solutions, an infrastructure and IT solutions firm. The London-based private equity investor said part of the funds raised will be used as follow-on growth capital in the investments.
Aviditi Advisors served as financial advisor and Weil, Gotshal & Manges as legal advisor for Apse in the fundraiser, while DLA Piper acted as legal advisor for JP Morgan Asset Management.
