LONDON, UK: Apax Global Alpha, the closed-ended investment company providing access to the Apax Private Equity Funds, today announced that it expects to invest approximately €1.7m in Swing Education on a look-through basis.
On 1 June 2023, the Apax Global Impact Fund (“AGI”), in which AGA is a limited partner, announced an investment in Swing Education, a pioneering online marketplace that connects schools and substitute teachers, as part of a $38m Series C funding round.
AGA’s investment is calculated based on the look through position of AGI’s overall investment in Swing Education and is translated based on the exchange rate at close2.
Swing Education is an online marketplace that connects substitute teachers with schools. Founded in 2015 by former K-12 educators and administrators, Swing makes it easier for schools to find reliable, qualified substitute teachers when they need them most. With over 300,000 absence days filled to date, Swing is dedicated to improving the experience of schools finding substitute teachers, of candidates entering the substitute teaching field, and of students continuing to learn disruption-free.
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax as well as a focused portfolio of predominantly debt investments (‘Derived Investments’). In March 2022, AGA made a commitment of $60m to AGI.