Apax Partners raises $1bn

The London-based firm closes digital fund at hard cap.

Apax Partners held a final close on its technology growth fund, Apax Digital, at $1 billion.

The fund, which closed at its hard cap after surpassing its $800 million target, will target high-growth enterprise and consumer technology companies globally, making investments of $30 million to $150 million. The Virginia Retirement System is among Apax Digital’s limited partners.

The London-based firm’s most recent flagship vehicle, Apax IX, closed at $9 billion in 2016.