BlackPeak lands €125M first close for its second Southeast Europe fund
What's the deal? Black Peak CapitalDealroom has a profile for this one. Try Dealroom → has raised €125 million in a first close for its second private equity fund, BPSEEF II, which targets growth-equity deals across Southeast Europe. Romania sits among its five core markets, alongside Bulgaria, Croatia, Slovenia, and Serbia.
What's the endgame? The fund plans to write cheques of €7–20 million, buying significant minority or majority stakes in 10 to 12 companies. It is targeting sectors including e-commerce, healthcare, digitalisation, and sustainability, with first deals expected in early 2027.
Who's backing it? The European Investment Fund committed €35 million, the European Bank for Reconstruction and DevelopmentDealroom has a profile for this one. Try Dealroom → €30 million, and the International Finance Corporation €20 million. New investors include Croatia's HBOR and Doverie, Bulgaria's largest pension fund, plus private regional investors.
Why now? The €125 million first close already nears the €126 million final size of BlackPeak's debut fund, launched in 2021. That fund invested in 11 companies, made 16 add-on acquisitions, and has returned capital through the sale of euShipmentsDealroom has a profile for this one. Try Dealroom → to Austrian PostDealroom has a profile for this one. Try Dealroom → and partial exits from GenePlanet and Wiser TechnologyDealroom has a profile for this one. Try Dealroom →.
BPSEEF II targets a €150 million final close in 2027, with room to reach €200 million.
What they're saying: "Five years ago, I spent a lot of time explaining why it was worth investing in Southeast Europe," said managing partner Ivailo Gospodinov (translated from Romanian). "Today, the region still has one of the highest growth rates in Europe, and the success stories here increasingly speak for themselves."
Gospodinov said regional companies lack the growth capital and expertise needed to expand internationally — the gap BPSEEF II was designed to fill.
The signal: Development institutions remain central to a thinly funded region; the IFC notes Southeast Europe drew only about 6% of Europe's fundraising in 2020–24. Fresh vehicles are stacking up regardless: Invenio PartnersDealroom has a profile for this one. Try Dealroom → announced a €75 million growth fund in 2026, and Croatia's Provectus CapitalDealroom has a profile for this one. Try Dealroom → closed €162.5 million for its second buyout fund. For Romania, that points to more capital reaching mid-sized firms.
Read more: zf.ro
Image credit: Black Peak Capital
