Seven2 announces its first investment in Diapason for its new fund Apax Development Fund II following a first closing

Paris, January 23^th 2024 - Seven2 (ex-Apax Partners) finalizes the sale of Diapason, allowing it to both generate a remarkable return for the subscribers of the Apax Development Fund ("ADF I") and to reinvest in the company through its new Apax Development Fund II ("ADF II"), thereby making its first investment following an initial closing.

Sale and Reinvestment in Diapason

ADF II makes its first investment in Diapason alongside PSG Equity and the team management.

Over the past three years, in a previous operation through ADF I, the Seven2 Development team has supported Diapason's transformation into a leader in treasury management software in France by significantly strengthening the management team, expanding its customer base to the midcap segment, and developing the indirect sales channel. Over this period, the company has shown strong growth in its recurring revenues, EBITDA, and number of clients, nearly tripling since 2020.

Alongside the new shareholder, ADF II will support Diapason in its next phase of growth, with the ambition of creating a European leader.

The Seven2 Development team is now enjoying strong activity in the smallcap segment and is actively working on several investment opportunities that could form the next investments for ADF II.

After three years of intensive transformation and growth, we are delighted that Seven2 has chosen to continue the adventure with Diapason alongside the new majority shareholder PSG Equity.

This decision is proof of the very strong trust that has been built up between the Seven2 and Diapason teams around our company's ambition.

We rely on Isabelle and her team to continue to generate opportunities and directions in the interest of Diapason's shareholder community.

Pascal Kravitzch, CEO of Diapason

First closing for Apax Development Fund II (ADF II)

ADF II also achieves its first closing at €170M, despite a very tense fundraising context since 2022, halfway to its target size of €350M.

As a reminder, ADF II is the second vintage of Seven2 Development, Seven2's smallcap activity, which invests tickets from €15M to €75M in growing French SMEs in Seven2's four sectors of specialization: Tech & Telecom, Healthcare, and Consumer Goods.

We are delighted to announce a first closing at half of our fundraising target for the fund Apax Development Fund II.

This closing demonstrates the strong momentum of our fundraising in a very difficult market, and particularly the solid support of our historic investors.

Isabelle Hermetet, co-head of Seven2 Development, who led the investment in Diapason.

This is an advertising communication. Please refer to the fund rules and key information document before making any final investment decision.
Investing in the FPCI ADF II involves a risk of loss of capital and liquidity.
Investment in this fund is reserved for informed investors (art. 423-49 of the RGAMF).

Press contacts

Lauren Bardet
Seven2 - Communications Director
+33 6 16 32 72 82
[email protected]

Jérôme Goaër - Verbatee
+33 6 61 61 79 34
[email protected]

Valérie Sabineu - Verbatee
+33 6 61 61 76 73
[email protected]