Apis Partners Ranked #2 Globally for Growth Capital Private Equity performance by HEC-Dow Jones, making it the first time a non-North American firm has joined the ranking

London, 30th May – Apis Partners Group (UK) Limited (“Apis”), a leading global private equity firm investing at the intersection of financial services and technology, has been ranked #2 globally for growth capital private equity performance by HEC-Dow Jones. This is the first year since the ranking has been published that non-North American firms appear in the top 10, making Apis’ debut all the more notable. Apis is also the highest-ranked firm in the list with a dedicated focus on financial services and technology. 

The 2024 HEC-Dow Jones Growth Capital Performance Ranking identifies the world’s top growth capital firms in terms of aggregate performance based on all growth capital funds raised between 2011 and 2020. Developed by HEC Paris Professor Oliver Gottschalg, the ranking answers the question: “Which growth capital firms generated the best performance for their investors over the past decade?” The ranking draws on a comprehensive set of dataset from Preqin and from private equity firms directly, using a proprietary methodology to evaluate performance across vintages, taking into account both relative and absolute returns.  

In total, Professor Gottschalg analysed data from 278 Growth Capital firms and the 505 funds they raised between 2011 and 2020 with an aggregate equity volume of $329 billion. 2024 marks the first year Apis was eligible for inclusion in the ranking. See the full report and methodology here. 

This recognition places Apis among the global elite of private equity firms and underscores its consistent outperformance in delivering strong returns to investors. In addition to its impressive overall ranking, Apis is the #1 performing growth capital firm globally in the financial services sector, underscoring the firm’s deep expertise and longstanding strategic focus in this area since its inception in 2014.  

Matteo Stefanel, Co-Founder and Managing Partner at Apis Partners, commented: “Being named the #2 growth capital firm globally, and the top performer in financial services, is a proud milestone for Apis. It reflects not only the exceptional talent within our team, but also the vision of the management teams and founders we support.” 

Udayan Goyal, Co-Founder and Managing Partner at Apis Partners, added: “This is an important achievement for Apis, being the first non-North American firm to debut in the global top 10 entering directly at #2, particularly given that this is the first time we have been eligible to be included in the ranking. At Apis, we believe in ‘returns with responsibility’: combining strong performance for our LPs with measurable societal impact. This recognition reinforces our commitment to advancing financial inclusion and innovation across global markets, while continuing to deliver top-tier results for our investors.” 

The HEC-Dow Jones Growth Capital Performance Ranking was issued on 12th May, 2025 and is based on data gathered as of December 2024. Apis did not provide cash or non-cash compensation directly or indirectly in connection with obtaining or using this ranking.   

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About Apis Partners 

The Apis Group (“Apis”) is an ESGI-native private equity firm that supports growth-stage financial services and technology businesses globally by providing them with catalytic growth equity capital. Collectively Apis, through its team of around 40 professionals with deep industry expertise, manages or advises on total AUM of c.US$2.2 billion. 

Headquartered in London, Apis has representation in six countries globally. Apis is highly conscious of the impact that the provision of growth capital for financial services and technology businesses in global markets can achieve, and as such, financial inclusion and financial wellness are core tenets of Apis’ impact investment approach. www.apis.pe