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BlackPeak Capital

26 Akademik Metodi Popov Str., Sofia, Grad Sofiya, 1113, Bulgaria

Overview

BlackPeak Capital is a co-investment growth equity fund focused on investing in high-growth Southeast European small and medium enterprises. BlackPeak Capital is funded by the European Investment Fund, part of the European Investment Bank, through the JEREMIE initiative for support of the SME enterprises in Bulgaria. We invest in equity, mezzanine, and other forms of hybrid capital to support the investment plans of dynamic regional companies. As a co-investment fund, BlackPeak Capital invests alongside other private institutional or individual investors on pari-passu terms. Our target investment ticket is between €1-8 million per transaction.

Total investments
4
Lead investments
3
Investments · 12mo
2
Active investors
7
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Investment portfolio

  • Fasal Bio

    Led · Equity · Apr 2026

    Founded in 2012 and based in Zagreb, Fasal Bio develops Naturion™, a proprietary composite material made from wood and renewable natural raw materials. Naturion™ is compatible with existing thermoplastic processing such as injection moulding and extrusion, enabling industrial-scale production without new infrastructure. Fasal integrates innovation with product design, prototyping, and manufacturing to move partners from concept to shelf, and its materials are used in commercial products for brands across the US and Western Europe. Its product categories include animal chewables, children’s toys and games, household goods, and clothes hangers, and it markets proprietary brands such as D-Bone and FORMIQ. The company reports demand currently exceeds production capacity and plans to expand manufacturing, strengthen commercial capabilities, accelerate R&D, and hire additional staff as part of its growth strategy.

  • Alcatraz AI

    Led · Series B · Apr 2026

    Alcatraz develops the Rock™, an AI-driven physical access control solution that authenticates people as they walk past entry points without taking photographs or storing biometric images. The company positions its technology as privacy-first facial authentication (not surveillance), designed to meet GDPR, CCPA, BIPA, and other compliance requirements. Its customers include leading AI data centers, major U.S. airports, energy companies, Fortune 100 enterprises, NFL teams, and top universities. In 2025 the company reported rapid adoption metrics: more than 300% year-over-year growth in data center adoption, 200% growth in new enterprise customers, and a fivefold expansion across Fortune 500 deployments. Alcatraz has raised over $100 million in total capital and plans to use the new funding to expand into new verticals and international markets and to grow its team.

  • Leanpay

    Led · Series B · Jul 2024

    Leanpay, founded in 2016 by Janko Medja, Misa Zivic, and Tilen Zugwitz, operates a BNPL and point-of-sale lending platform headquartered in Slovenia. The company claims market leadership in Slovenia, Romania, and Hungary and serves over 120,000 users and 1,500 merchant partners. It positions itself as a responsible lender and a pioneer of third-generation BNPL solutions, operating an asset-light model. Leanpay’s product targets flexible consumer payment methods at the point of sale and partnerships with merchant partners. The new funding is intended to support expansion of operations, the launch of new services, and recruitment of new talent to strengthen its market position. BlackPeak Capital’s involvement is framed as strategic regional support to help the company scale.

  • Software Group

    Participated · Equity · Sep 2018

    Founded in 2009, Software Group builds digital banking and integration solutions centered on its award-winning DigiWave platform and prebuilt solutions. The company serves a global client base of more than 200 banks and financial institutions across over 70 countries from nine regional offices. Its platforms and solutions claim to impact more than 100 million people and are used to enable nationwide payment and financial service platforms, support SME growth, and accelerate financial inclusion. Software Group partners with clients including foundations, development banks, and large financial institutions to drive digital transformation in emerging markets. The company is focused on enhancing product offerings and extending market reach as part of its growth strategy. The recent investment will support continued innovation and the company’s mission to create next-generation financial and public services. Software Group signed an €18m loan with the European Investment Bank (EIB). The financing is non-dilutive and will be used for additional innovations, R&D and marketing. The EIB reviews over 2,000 applications per year and supports only about 1–2% across Europe, underscoring the selectivity of its backing. Software Group is the first such EIB investment in Bulgaria to pass the bank's rigorous due diligence process and has become a showcase deal for the country. The press release frames the transaction as a high-profile endorsement and establishes a funding relationship with the EIB. Software Group builds software technology for the global microfinance sector, serving clients across 65 countries. The company targets the $100bn microfinance market with its cutting-edge platform. It is nine years old and headquartered in Sofia. Management reports spectacular ARR growth, though no specific revenue figures are disclosed in the article. CEO Kalin Radev is featured in BrightCap’s Capital^People podcast discussing microfinance trends and the company. No future product roadmap or financing uses were detailed in the article.

Team

  • Ivailo Gospodinov

    Managing Partner

    LinkedIn
  • Rossen Ivanov

    Managing Partner

  • Marko Dabic, CFA

    LinkedIn
  • Kiril Ivanov

    Investment Manager

    LinkedIn