BlackPeak Capital Plans to Invest up to €40 million in Romania to Support SME Growth
The announcement was made public during an event held on May 10th, 2023, at the Marmorosch Hotel in Bucharest. Attended by leading Romanian companies, M&A advisors, law firms, investors and other members of the ecosystem, the event was an exciting opportunity to share BlackPeak's vision for the future.
At the event, BlackPeak Capital introduced its new Romania lead, Virgil Chitu, an investment banking professional with over a decade of financial services experience. Based in Bucharest, he will oversee BlackPeak's investment activities in Romania. Prior to joining BlackPeak Capital, Virgil was with Citi across several roles and countries and most recently in Citi’s Financial Sponsors Investment Banking team in London.
Last year, BlackPeak Capital successfully raised its €126 million Southeast Europe Growth Equity Fund. The fund, based in Luxembourg, is backed by the European Investment Fund, the EBRD, the IFC, Erste Asset Management, BCR Pensii and other leading regional pension funds. With a strong foundation in place, BlackPeak is well-positioned to make a significant impact in Romania and the region. Radu Craciun, CEO of BCR Pensii was among the speakers at the event.
BlackPeak's investment plans in Romania align with the firm's commitment to supporting innovative and successful companies that are making a positive economic, social, and environmental impact in the region. Verdino Green Foods, a Romanian plant-based meat alternatives company, presented during the event by its CFO, Dorian Macovei, is one example of the firms in BlackPeak's portfolio. As a result of the BlackPeak’s investment in 2021 the company has started exporting its products under its own brands to more than 13 countries, including Germany, the UK, Netherlands, Poland, and the US. Among BlackPeak’s investments are also two FT1000 fastest growing European companies – the Slovenian biotech leader GenePlanet, presented by Marko Bitenc, founder and CEO; and the leading provider of logistics integration solutions in Bulgaria and SEE, euShipments, presented by Svetlozar Dimitrov, founder and CEO. In addition, BlackPeak has invested in Telelink Infra Services, a leading Bulgarian firm focused on providing infrastructure and digitalization solutions for the UK and German markets.
‘We are committed to making a significant positive economic, social, and environmental impact in the region,’ said Virgil Chitu, Romania Lead at BlackPeak Capital. ‘With plans to invest tickets of €5-15 million in fast-growing companies in Romania and the region, we are excited to be part of this dynamic ecosystem and help drive sustainable growth.’
Chitu also highlighted the firm's focus on inorganic growth and its commitment to helping investees structure add-on acquisitions that will result in regional or even global business case platforms. He also added ‘We believe that sustainable growth is the only way to achieve our goals. That's why we are supporting companies on their pathway to NET ZERO.’