The Apax X fund (Apax X), in which Apax Global Alpha (APAX) limited partner, announced the signing of a definitive agreement to acquire a majority stake in CyberGrants, a leading provider of software-as-a-service (SAAS) solutions for corporate social responsibility (CSR), employee engagement, and volunteer management. The transaction is expected to close in Q3 2021, subject to customary closing conditions.
On a look through basis, APAX is expected to invest up to $13.9m in the company, depending on final closing arrangements.
About CyberGrants
The announcement notes that “CyberGrants delivers market-leading CSR software solutions to some of the most respected companies and foundations in the world, helping them quickly activate their charitable causes to realise strategic, measurable outcomes. Its single platform solution enables customers, including more than half of the Fortune 100 companies, to easily scale their CSR programmes and quickly transform grants and giving initiatives into impact that closely aligns with their corporate mission and values. CyberGrants’ network connects 10m employees and their employers with 650,000 not-for-profit organisations.”
APAX: Apax X fund invests in CyberGrants