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World-renowned climbing walls manufacturer Walltopia has announced that two equity funds, one from China and one from Bulgaria, have acquired a minority stake in the company.
These are BlackPeak Capital, a Bulgaria-based private equity fund, and the China-CEE Fund.
BlackPeak capital was set up under the EU's Joint European Resources for Micro to Medium Enterprises (JEREMIE).
On its website (which is "still under construction" as of August 13), it says it is "a private equity fund investing in small and medium-sized enterprises in Bulgaria".
China-CEE for its part was established by China Exim Bank together with "other institutional investors from the CEE [Central and Eastern Europe] region to capitalize on investment opportunities in CEE countries," as the summary on its own website reads.
As of August this year the fund manages assets worth USD 435 M.
The news website Dnevnik.bg quotes Walltopia representatives as saying this has been the first investment of the Chinese fund into Bulgaria.
Established in 1998, Walltopia has built over 250 000 square meters of climbing walls in some 50 countries.
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