AfDB to invest $11mn in BluePeak Private Capital

The African Development Bank plans to invest USD 11mn in BluePeak Private Capital Fund to support the impact fund’s final close.

Domiciled in Luxembourg, the fund aims to provide growth capital to mid-sized companies with the potential to become pan-African market leaders. It expects to make at least eight investments of between USD 8mn and USD 25mn. And its current investment pipeline comprises 22% agribusiness, 22% manufacturing and packaging, 12% pharmaceuticals, 12% fintech, and financial services, and 11% each in information technology, telecommunications, logistics, and commercial real estate.

BluePeak aims to raise a total of USD 155mn with further commitments from other development finance institutions.