British private equity fund Apax Partners said on Wednesday it will create a $500 million mid-market fund to invest in Israeli companies in the technology, telecom, healthcare and consumer sectors.

The new fund will target 10 deals of $25 million to $100 million, Nico Hansen, a partner at Apax, told a private equity conference in London. The money for the fund will come from local investors, he said.

Hansen added that Apax's global fund would continue to target deals of more than $200 million.

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