BluePeak Private Capital Closes $156 Million Fund to Back African Businesses

BluePeak Private Capital, a firm dedicated to aiding the growth of scalable businesses in Africa, has successfully closed its Private Capital Fund SCSp at $156 million.

This fund received backing from esteemed investors such as the African Development Bank (AfDB), British International Investment (BII), the European Investment Bank (EIB), the US Development Finance Corporation (DFC), FMO, SwedFund, and CDC Tunisia.

Walid Cherif, co-founder and managing partner of BluePeak Private Capital said: “We are excited about the next phase, of partnering with ambitious entrepreneurs to boost operational excellence, drive growth, strengthen ESG practices and unlock positive impact across Africa”

BluePeak Private Capital invests in various sectors, including healthcare, education, financial services, manufacturing, and technology. They focus on companies generating revenues between $10 million and $80 million, with the potential to become market leaders across Africa.

In 2021, the firm initiated its fund with $115 million and aimed to reach a final close of $200 million, with a hard cap of $250 million.

One of their initial investments was in Grit Real Estate Income Group Limited (Grit), a London Stock Exchange-listed company with diverse assets across Africa. This investment will aid Grit in expanding its portfolio of industrial and health facilities in East Africa.

The African Development Bank (AfDB) invested $11 million in the private capital fund to support the growth of small and medium-sized enterprises (SMEs) in Africa. SMEs are vital to Africa’s economy but often face challenges in accessing financing. BluePeak’s investment fund will address this challenge by providing growth capital to SMEs to expand and create jobs.

BluePeak’s successful fund closing aligns with Africa’s rapid economic growth, driven by its growing population and expanding middle class. This growth offers new opportunities for African businesses, and BluePeak is well-positioned to support their growth and scaling efforts.