The first private capital fund, BluePeak Private Capital Fund SCSp, has reached a final close of US $156 million. BluePeak Private Capital is an alternative asset management company that supports the growth of scalable businesses in Africa through privately-negotiated and structured debt-like instruments.
Established in 2019, BluePeak Private Capital is an alternative asset management company with locations in Tunis, Nairobi, and London.
The company said that the US $156 million final close of its new fund marked the beginning of private debt’s emergence as a desirable asset class that provides African SMEs with a better risk-adjusted option.
The African Development Bank (AfDB), British International Investment (BII), European Investment Bank (EIB), US Development Finance Corporation (DFC), FMO, SwedFund, and CDC Tunisia were among the investors and development finance institutions (DFIs) drawn to the fund due to their mandate to maximize social impact and generate attractive returns.
With six innovative companies operating in over 30 African countries, employing over 7,500 people, and making a significant impact on the lives of millions of Africans, the fund has amassed a diversified portfolio in less than three years since its original closing.
“When we established BluePeak in 2019, it was to form part of a solution to fill Africa’s funding gap. Difficulty obtaining capital for ambitious businesses has long held back their financial development and positive economic and social impacts. We are honoured to have secured the backing of such a prestigious group of investors and meet the unique and evolving needs of businesses. We are excited about the next phase, partnering with ambitious entrepreneurs to boost operational excellence, drive growth, strengthen ESG practices and unlock positive impact across Africa,” said Walid Cherif, BluePeak co-founder and managing partner.
