Sofia-based private equity firm BlackPeak Capital has reached a €125 million first close of its second Southeast Europe Growth Equity Fund, bringing it close to the €126 million final size of its predecessor. The fund is targeting €150 million, with a hard cap of €200 million and a final close expected in 2027, as Vestbee was informed.
- Established in 2014, BlackPeak Capital invests in growing businesses through minority and majority stakes, providing growth capital and operational support to help them expand through organic growth and acquisitions.
- The firm has raised more than €280 million in commitments across three funds and has offices in Sofia, Bucharest, Zagreb, Belgrade, Ljubljana and Vienna.
- The new fund will invest between €7 million and €20 million per transaction in fast-growing companies across Southeast Europe, primarily in Bulgaria, Romania, Croatia, Slovenia and Serbia. It may also pursue opportunities in other Central and Eastern European markets, including Poland, Hungary, Slovakia and the Baltic states.
- BlackPeak Southeast Europe Growth Equity Fund II aims to build a portfolio of 10 to 12 companies, focusing on sectors such as e-commerce, healthcare, digitalisation and sustainability. The fund will support portfolio companies with market expansion, acquisitions and management team development.
- The fund is backed by returning institutional investors, including the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), Erste Asset Management and the International Finance Corporation (IFC). New investors include the Croatian Bank for Reconstruction and Development (HBOR), Bulgaria's Universal Pension Fund Doverie and regional private investors.
- The EIF has committed €35 million, while the EBRD and IFC have committed €30 million and €20 million, respectively. BlackPeak expects to make its first investments from the fund in early 2027.
