Investor poised for Candy Crush gain

Apax Partners stands to score a 10,000% gain on its 2005 investment in King Digital Entertainment as the maker of smartphone game Candy Crush Saga prepares its initial public offering.

London-based buyout firm Apax, in one of its last venture capital deals, injected about $35m (€25m) into King, according to a source. The games maker set terms last week for the IPO that would value it at as much as $7.6bn. Apax’s stake could be worth $3.5bn.

While Dublin-based King has developed over 180 games in the past decade, Candy Crush, a puzzle that features coloured candies, fuelled most of its growth.