Private equity advisory firm Apax Partners LLP has raised a technology-focused fund, called Apax Digital, with $1 billion in capital commitments. The fund has already invested in a $165 million funding round in Moda Operandi Inc., an online luxury retailer that allows consumers to pre-order designer collections worn on the runway.

Apax Digital will make minority and buyout investments in high-growth tech and consumer internet businesses globally. The fund, advised by a dedicated team of 14 investment professionals based in New York and London, will target individual equity investments between $30 million and $150 million. The capital raise of Apax Digital follows the close of Apax IX in December 2016 with $9 billion in capital commitments.

Apax Digital’s investment in Moda Operandi will be used to help “fuel continued international growth and increased development across several key business verticals.” Additionally, the funding will help accelerate improvements in mobile tech, customer acquisition programs and marketing strategies. Prior to this round of funding, New York-based Moda Operandi has raised more than $132 million since inception in February 2011.

Headquartered in New York and London, Apax is a private equity firm that has raised and advised more than $51 billion in assets under management since inception. Apax targets the technology and telecommunications, business services, healthcare and consumer sectors. The firm has had its fair share of middle-market deals, recently purchasing packaging manufacturer Tosca Services in October, SaaS provider ECi Software Solutions, Answers Corp. and retailer Rue21.