Backing visionary founders to drive growth

idealista

  • Technology
  • Year of investment
    2021
  • Fund
    Apax X
  • Status
    Realised
  • Date of exit
    2024

At the time of the Apax Funds’ exit, idealista connected around 60,000 real estate agents with over 38m unique monthly visitors generating over 1bn visits annually across Southern Europe – making it a valuable tool for prospective homeowners and sellers in Spain, Portugal and Italy.

The Apax Funds first invested for a majority stake in idealista in 2015 through Apax VIII, supporting the company’s co-founders in growing and professionalising the business. Apax VIII’s investment in idealista generated a total gross MOIC of 5.3x.

Following the exit of Apax VIII’s investment in idealista, Apax X acquired a minority stake in February 2021 alongside EQT. The transaction coincided with the merger of idealista’s Italian business with Casa.it. The team identified an opportunity to invest in a business they knew well from prior AVIII ownership in a sector where the Funds have a long and successful track record. The team supported the co-founders in further strengthening and growing the business in Spain and Portugal, while undertaking transformational consolidation in Italy to create a scale player and challenger to the incumbent.

The Apax Funds have successfully invested in 14 online marketplace businesses across the world, putting more than c.$4.8bn of equity into companies that run online marketplaces for real estate, automotive, boats, jobs and consumer financial products.

AGA’s look-through position in Apax VIII and Apax X

“Since the Apax Funds first invested in the business in 2015, idealista’s revenues has grown by more than 7x and headcount by more than 4x from c.300 to more than 1,250 people. Almost all of this growth has been organic. Very few businesses globally perform like this, and Apax is proud to have supported idealista on this journey.”
Tom Hall | Partner, Internet/Consumer at Apax