Apax Global Alpha Limited has announced the sale of its remaining shares in Genius Sports Limited by the Apax IX Fund, delivering a total gross MOIC of 2.6x and a gross IRR of 31% for Apax IX. The transaction will return a total of approximately €26m for AGA's look-through investment in Genius Sports. Apax IX recognized the significant growth potential of sports data and technology, supporting the expansion of the company's international footprint and development of innovative technologies and services during its ownership. The company's revenues grew by 4x to $413m in 2023, and it partially exited its investment in Genius Sports via a SPAC merger in Q1 2021.
Genius Sports, founded in 2000, provides technology for capturing, managing, and distributing live data and video for sports leagues, as well as secure, high-quality data and content for sports betting operators. The company maintains long-term partnerships with sports organizations globally, including the NBA, NCAA, FIBA, FIFA, the English Premier League, and NASCAR. The Apax Funds have a strong track record of investing in the software subsector, having invested over $9bn of equity in 30 deals in the last 23 years.
Apax Global Alpha Limited, listed on the London Stock Exchange, provides investors with access to the Apax Private Equity Funds and a smaller portfolio of mostly debt investments. In 2016, AGA made a commitment of approximately $350m to Apax IX. The announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014. It is not for release, publication, or distribution in certain jurisdictions, and may include forward-looking statements.