IFC to invest €15mn in BlackPeak SEE Growth Equity Fund to boost access to capital for SMEs

By bne IntelliNews June 22, 2021

The World Bank’s International Financial Corporation (IFC) said it will invest up to €15mn in the Southeast Europe-active BlackPeak SEE Growth Equity Fund (BlackPeak II) to support access to growth capital for small and medium-sized enterprises in the SEE region.

The private equity investment should help companies across the region expand operations and boost productivity, which would lead to more jobs and faster economic recovery.

BlackPeak II aims to raise up to €120mn and intends to invest in small and medium sized companies (SMEs) in Southeast Europe, primarily in Bulgaria, Romania, Serbia, Croatia and Slovenia.

Investments will be focused on export-oriented companies with unique products or services and those operating in a range of areas, including information technology and software, niche manufacturing, business services, health care, consumer, and retail.

In addition to providing capital, BlackPeak II will help the companies to implement IFC’s environmental and social policies and promote corporate governance through board seats and positions on key management committees.

Related Articles

EIB calls for investment in innovation for climate and post-pandemic recovery at Bled Strategic Forum in Slovenia

Financing innovation is key to driving the development of low-carbon technologies, European Investment Bank (EIB) president Werner Hoyer said at the Bled Strategic Forum in Slovenia on September 2. ... more

Slovenia starts works on €88.9mn Pragersko rail hub upgrade project

Slovenia has launched works on the upgrade of the Pragersko railway hub, one of the main rail junctions in the country, a project worth €88.9mn, the government’s Directorate for Infrastructure ... more

Slovenia and Croatia backed by EIF launch technology transfer platform worth €40mn

The Slovenian and Croatian development banks and the European Investment Fund (EIF) signed an agreement in Ljubljana on July 26 to set up a regional technology transfer platform worth at least ... more