BluePeak Private Capital Fund aims to raise $200m; in line for FMO commitment
The Dutch entrepreneurial development bank, FMO is proposing a $20 million investment in the BluePeak Private Capital Fund, which aims to provide growth capital to small and medium companies in North, West and East Africa and up to 20% in the Levant.
BluePeak targets to raise $200 million in commitments and will be managed by BluePeak Private Capital which is a newly established fund manager with a head-office in Tunisia. The business is owned by a team that has worked together for many years managing similar funds. This is a new relationship for FMO.
BluePeak is a specialist mezzanine fund manager, offering a blend between debt and equity financing. Such financing helps to addresses the funding gap that exists for companies who prefer to retain the ordinary equity whilst requiring growth funding to expand their businesses. The instrument thus includes a fixed repayment schedule (like debt) whilst also including some upside participation (akin to equity) if the business is successful. The fund will invest across multiple sectors with a target investment size of $15-20 million. Focus countries include Kenya, Tanzania, Ethiopia, Uganda, Ghana, Nigeria, Cote d’Ivoire, Senegal, Zambia, Morocco, Tunisia and Egypt.
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