The Paris office represented Apax Partners Development in the fundraising of Apax Development Fund. Willkie client Apax Partners Development recently announced that it has raised €255 million for Apax Development Fund, the first fund launched since the combination of Apax Partners Development (formerly EPF Partners) with Apax Partners SAS. Apax Development Fund is 2.5 times the size of the last fund raised by EPF Partners, EPF IV. It was subscribed by a large number of investors from France, Europe and North America. Apax Development Fund’s investment strategy is focused on high-growth French SMEs with a valuation of up to €100 million, operating in Apax Partners’ four sectors of specialization: TMT, Consumer, Healthcare, and Services. Apax Partners Development targets robust, high-quality platforms and accelerates its growth through digital transformation, market consolidation and international expansion. Apax Partners Development aims to build a portfolio of approximately ten investments, each for amounts between €15 million and €50 million. The deal was handled by partner Nathalie Duguay with the assistance of associate Raphaël Bloch.