Technology

Tech makes up the largest part of the portfolio and is a sector in which Apax has invested for over 30 years. The team primarily invests in software, tech-enabled services, and telecom.

47%

of AGA’s Invested Portfolio

As at 31/03/2025
3
core sub-sectors

Software

The team focuses on building sub-sector champions in software, partnering with businesses in areas such as enterprise resource, planning services, cloud delivery models and more.

Tech-enabled services

Demand for tech-enabled services has grown rapidly, including the arrival of next-generation cloud platforms, mobile and web applications, and the Internet of Things, with the Apax Funds investing behind these trends.

Telecom

Extensive experience investing in cable and satellite operators, particularly in Europe.

Thoughtworks

  • Technology
  • Year of investment
    2017
  • Fund
    Apax IX & Apax XI
  • % of Nav
    5
  • Entry year
    2017
  • Current valuation
    €52.4m
  • Geography
    North America
Website

Thoughtworks is a Global technology consultancy that integrates strategy, design, and engineering to drive digital innovation. Thoughtworks helps clients solve complex business problems with technology as the differentiator.

Zellis Group

  • Technology
  • Fund
    Apax XI
  • % of Nav
    4
  • Entry year
    2024
  • Current valuation
    €46.0m
  • Geography
    United Kingdom
Website

Zellis Group is one of the leading providers of payroll and HR software to customers in the UK and Ireland, and an emerging leader in the global benefits administration software market.

Bonterra

  • Technology
  • Fund
    Apax X/AGI
  • % of Nav
    4
  • Entry year
    2021
  • Current valuation
    €41.7m
  • Geography
    North America
Website

Bonterra is a leading integrated social good software platform that enables non profits to raise more money, increase efficiency, magnify impact and allows donors to maximise and validate the impact of their philanthropy.

Odido

  • Technology
  • Year of investment
    2022
  • Fund
    Apax X
  • % of Nav
    3
  • Entry year
    2022
  • Current valuation
    €37.1m
  • Geography
    Europe
Website

Odido (formerly T-Mobile Netherlands) is one of the leading telecom providers in the Netherlands, with circa 8 million customers. The company offers services to both consumers and business customers.