IFC considers investing €20 million in BlackPeak Capital's 3rd fund

The International Finance Corporation said it is considering an equity commitment of up to €20 million in a third investment fund managed by Bulgaria-headquartered private equity firm BlackPeak Capital.

With a target size of €150 million, BlackPeak SEE Growth Equity Fund II will predominantly invest in small and medium enterprises (SMEs) and lower mid-market companies in Bulgaria, Romania, Serbia and Croatia and other countries in Southeast Europe, the IFC said in a project disclosure document on Thursday.

BlackPeak Capital said earlier it had secured  commitments from the European Investment Fund (EIF) under the Recovery Equity Funds (REF) of Romania and Bulgaria for the fund. 

In 2022, BlackPeak Capital completed final closing of Southeast Europe Growth Equity Fund at €126 million, surpassing the original target of €120 million, backed by the EIB, the European Bank for Reconstruction and Development (EBRD), the IFC, Erste Asset Management, and some of the regional pension funds.

BlackPeak Capital was established in 2014, and soon after it launched its first fund, BlackPeak Fund I, which invested in 12 companies, according to BlackPeak Capital's website.

BlackPeak Capital has €150 million of assets under management.