First close for BluePeak Private Capital Fund II
The first close of BPCF II drew commitments from several European development finance institutions.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
BluePeak Private Capital has reached a first close of $80 million for its second fund, BluePeak Private Capital Fund II (BPCF II), which will invest in scalable businesses across a range of sectors in Africa. The fund follows BluePeak’s inaugural vehicle, BluePeak Private Capital Fund I.
Since the firm's establishment in 2019, BluePeak has backed several regional businesses, including Grit Real Estate Income Group, ieng Group, Africure Pharmaceuticals, and Watu Africa.
The first close of BPCF II drew commitments from European development finance institutions, including British International Investment (BII), FMO, Swedfund, and the Swiss Investment Fund for Emerging Markets (SIFEM), which committed $30 million, $15 million, $20 million, and $15 million, respectively.
Walid Cherif, managing partner at BluePeak, said: “We are proud to have the support of leading European DFIs as we continue to scale our mission of backing resilient and defensive businesses across high-growth markets. Their commitment is a strong vote of confidence in our strategy to combine performance with impact, and it plays a critical catalytic role in mobilising the capital needed to close the significant funding gap across the continent. Raising Fund II in less than four years since the first close of Fund I is a testament to sustained investor confidence driven by continued value creation and strategic positioning in the market.”
“Businesses in Africa need financing to grow, but they often struggle to access funding, especially on flexible terms that meet their specific needs. That's why we are delighted to collaborate with our European counterparts as a consortium to support BluePeak’s Fund II and fuel the growth of private credit as an asset class. This partnership extends our reach and provides growth financing to empower businesses in Africa. Its success will serve as a model to attract more private capital,” said Chris Chijiutomi, managing director and head of Africa at British International Investment.
“This investment supports Swedfund's goal of reducing poverty by enabling businesses to grow sustainably and increasing access to essential services and capital. We invest to increase financial inclusion and strengthen the private sector's ability to create jobs, especially for women and young people,” says Jakob Larsson, senior investment manager at Swedfund.
“FMO is pleased to be partnering again with BluePeak to provide much-needed growth capital to African entrepreneurs, supporting our mission of inclusive economic development across the continent. There is a clear funding gap for businesses that seek to retain ownership while still requiring growth financing to expand their operations. Through this partnership, we not only address this gap, but also strengthen our private capital strategy at FMO by collaborating with an experienced local partner capable of financing sustainable and inclusive growth across Africa,” said Annemarie van Duijn, manager for private equity global funds at FMO.
“Investing in resilient, growth-oriented businesses is essential to driving long-term economic development. SIFEM’s commitment to BluePeak Fund II reflects our mission to catalyse inclusive growth, strengthen the private sector across Africa, support sustainable job creation, and empower local entrepreneurs,” said Anthony Mwangi Njoroge, principal and co-head for Africa fund of funds at responsAbility, SIFEM's portfolio manager.
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here