Tunis-based asset manager BluePeak Private Capital lends to underserved small- and medium-sized businesses in African growth markets.
Its BluePeak Private Capital Fund II will invest in businesses in manufacturing, pharmaceuticals, logistics, and financial services sectors that support local value chains and economic clusters. The 2X Challenge fund also seeks to promote women’s economic empowerment and climate resilience.
BluePeak raised $80 million towards a $250 million fund target from European development finance institutions, including British International Investment, the Netherlands’ FMO, Swedfund, and the Swiss Investment Fund for Emerging Markets. Funding from the DFIs “plays a critical catalytic role in mobilising the capital needed to close the significant funding gap across the continent,” said BluePeak’s Walid Cherif.
Local resilience
BluePeak has raised $240 million since it launched in 2019. It backed eight portfolio companies in its first fund, including Africure Pharmaceuticals, which manufactures affordable medicines in Cameroon, Namibia, Botswana and Côte d’Ivoire; and Dubai-based Suhara Group, a logistics company operating across Africa.
