Four European Development Finance Institutions (EDFIs), British International Investment (BII), FMO, Swedfund, and Swiss Investment Fund for Emerging Markets (SIFEM) have jointly committed $80 million to BluePeak Private Capital Fund II (BPCF II), a pan-African private credit fund focused on addressing the financing needs of mid-sized businesses in Africa, with an emphasis on ESG best practices and meaningful impact.
Africa’s mid-market segment remains critically underfunded, with a persistent financing gap constraining the growth of otherwise viable businesses. These businesses often lack access to traditional financing due to insufficient collateral or limited credit history, despite their potential to generate jobs, expand access to essential services, and strengthen local value chains.
BPCF II will invest in strategic sectors, including food manufacturing, pharmaceuticals, industrial packaging, and financial services—industries with the potential to deepen local value chains and foster industrial clusters. With a strong focus on gender inclusion, the Fund is 2X Challenge qualified, promoting women’s economic empowerment as a core objective.
BluePeak integrates sustainability considerations throughout its investment process, prioritising resilience, inclusive growth, and long-term value creation. Through this partnership, the EDFI consortium aims to support BPCF II in providing capital to African businesses that demonstrate both commercial viability and the potential to deliver measurable development outcomes.
The commitment is a strong signal of support from European DFIs for private credit solutions in Africa’s underserved mid-market. The EDFIs have committed $30 million (BII), $15 million (FMO), $20 million (Swedfund), and $15 million (SIFEM), respectively. This fund close is also an example of the strong collaboration between the EDFIs involved to support economic development in Africa.
“Businesses in Africa need various types of 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 Development 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, 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, Manger 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 catalyze inclusive growth, strengthen the private sector across Africa, support sustainable job creation, and empower local entrepreneurs,” said Anthony Mwangi Njoroge, Principal and Co-Head Africa Fund of Funds at responsAbility, SIFEM’s portfolio manager.
WalidCherif, Managing Partner, 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 mobilizing 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.”
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