BIAT Capital Risque
BIAT Capital Risque is a Tunisian private equity and venture capital firm (Sicar) that provides equity financing to domestic SMEs across all lifecycle stages—creation, growth, LBO, and turnaround. A wholly-owned subsidiary of Groupe BIAT, it manages approximately 550 MDT and has completed 77 portfolio investments.
- Company typePrivate
- Founded2000
- HeadquartersTunisi, Tunisia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What BIAT Capital Risque does
BIAT Capital Risque is a Tunisian private equity and venture capital investment company (Sicar - Société d'Investissement en Capital à Risque) founded in 2000 and headquartered at 70-72 Avenue Habib Bourguiba, Tunis. As a wholly-owned subsidiary of Groupe BIAT (Banque Internationale Arabe de Tunisie), Tunisia's leading bank, it provides equity and quasi-equity financing to Tunisian companies across all lifecycle stages through four product lines: Capital Risque (venture/creation), Capital Développement (growth capital), Capital Transmission (LBO/buyout), and Capital Retournement (turnaround/recapitalization). The firm invests tickets ranging from 1 to 5 million Tunisian dinars (MDT), takes equity stakes of 10% to 49%, and operates on a 5-7 year investment horizon with exits via promoter buybacks, IPOs, trade sales, or strategic divestitures.
The company's investment operations are managed by a lean team of five investment professionals (Karim Ghenim as CEO plus four investment managers) overseen by a five-member Board of Directors. BIAT Capital Risque manages approximately 550 MDT in assets on behalf of Groupe BIAT as of June 2020, has executed 77 cumulative participations, and has deployed 403 MDT in cumulative investments, with 66% directed toward projects in Tunisia's regional development zones (Zones de Développement Régional). The business model generates revenue through three streams: capital gains on exits, dividends from portfolio equity stakes, and fund management fees from administering capital on behalf of Groupe BIAT.
Distribution and deal sourcing flow through direct outreach by investment managers, the headquarters in Tunis, and a critical referral channel via Groupe BIAT's 201-branch retail banking network. Portfolio companies span agro-industry (CHO Company, VITALAIT, Cotugrain), pharmaceuticals (CYTOPHARMA, Opaliapharma), automotive (CITY CARS/KIA), renewable energy (SHAMS Technology), industrial manufacturing (SOTIPAPIER, MAS.SA, MAM PACK), and technology parks (Pôle de Compétitivité Monastir-El Fejja), reflecting a sector-agnostic domestic investment thesis focused on growth-stage Tunisian SMEs.
BIAT Capital Risque firmographics
Firmographics- Name
- BIAT Capital Risque
- Legal name
- BIAT Capital Risque
- Website
- https://biatcapitalrisque.com
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BIAT Capital Risque is a Tunisian private equity and venture capital firm (Sicar) that provides equity financing to domestic SMEs across all lifecycle stages—creation, growth, LBO, and turnaround. A wholly-owned subsidiary of Groupe BIAT, it manages approximately 550 MDT and has completed 77 portfolio investments.
- Ownership category
- akta.pro rank
Where BIAT Capital Risque is headquartered
LocationHeadquarters
- HQ city
- Tunisi
- HQ country
- Tunisia
- HQ region
- Africa
Offices1 record
Markets served
BIAT Capital Risque business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others
Revenue model
- Capital gains on exit: Realization of capital gains through exit events including share buybacks by promoters, IPOs, sale to other investors, or strategic exits. This represents the primary return mechanism for the firm's equity investments over the 5-7 year investment horizon.
- Dividend income: Receipt of dividends from portfolio company participations, providing periodic income distributions from equity stakes ranging from 10% to 49%.
- Fund management fees: Management fees collected for administering funds under management on behalf of Groupe BIAT, totaling approximately 550 MDT as of June 2020.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Equity investments between 1 MDT and 5 MDT |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
BIAT Capital Risque product offering
Product offeringCore offering
BIAT Capital Risque is a Tunisian private equity and venture capital investment firm (Sicar) that provides equity and quasi-equity financing to Tunisian companies across all lifecycle stages. It invests tickets ranging from 1 MDT to 5 MDT per transaction, taking equity stakes of 10% to 49% over a 5-7 year investment horizon, with exit via promoter buyback, IPO, or strategic sale. As a wholly-owned subsidiary of Groupe BIAT, the firm manages approximately 550 MDT in funds under management.
Product overview
BIAT Capital Risque is a Tunisian investment company (Sicar) offering a unified portfolio of private equity products structured around four core investment vehicles: Capital Risque for company creation, Capital Développement for SME growth, Capital Transmission for acquisitions/LBO, and Capital Retournement for turnaround situations. The company manages approximately 550 MDT in assets and provides equity financing ranging from 1 to 5 MDT with 10-49% equity stakes over 5-7 year horizons. The offering is delivered as an integrated service with investment advisory, due diligence, shareholder agreement management, and exit strategy planning.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- 403 MDT in cumulative investments
- +2 more outcomes
Companies that use BIAT Capital Risque
Customer profileNamed customers14 records
Segments5 records
Ideal customer profiles3 records
BIAT Capital Risque technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
BIAT Capital Risque partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Tunisian Association of Capital Investors (ATIC)coreBIAT Capital Risque's CEO Karim Ghenim served as President of ATIC from 2011 to 2017. ATIC represents Tunisian private equity and venture capital investors, promoting the industry and advocating for favorable regulatory frameworks.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
BIAT Capital Risque competitors and assessment
Company assessmentDirect peers
- Mediterrania Capital Partners: Mediterrania Capital Partners is a Malta-based PE firm focused on North Africa (Morocco, Tunisia, Algeria, Egypt). It directly competes with BIAT Capital Risque in Tunisia for growth-stage equity transactions in similar ticket ranges and sector verticals.
- Africinvest: Africinvest (formerly Tuninvest) is a leading Tunisian-founded pan-African PE firm with a multi-stage strategy across North and Sub-Saharan Africa. It is the most direct comparable to BIAT Capital Risque, competing in overlapping Tunisian deal flow with similar ticket sizes and sector breadth.
- SPE Capital: SPE Capital (formerly Swicorp Private Equity) is a Tunis-based PE firm investing across North Africa and the Levant. It is a direct peer, operating with similar lower-middle-market ticket sizes and a focus on growth and LBO transactions in Tunisia and neighboring countries.
Broad incumbents
- Actis: Actis is a UK-based emerging markets PE firm with active North African exposure, including Tunisia. It operates a similar multi-stage, multi-sector strategy but at significantly larger scale, making it a broad incumbent peer for benchmarking growth trajectories.
- Development Partners International: Development Partners International (DPI) is a London-based pan-African PE firm with North African exposure. It competes at the upper end of the Tunisian market and represents a comparable institutional PE platform targeting similar growth-stage opportunities.
- Helios Investment Partners: Helios Investment Partners is a pan-African PE firm managing multi-billion-dollar funds across Africa. While substantially larger than BIAT Capital Risque, it competes for the largest Tunisian deals and serves as a useful scale benchmark for potential expansion.
- Emerging Capital Partners: Emerging Capital Partners (ECP) is a larger pan-African PE firm with broader geographic reach and larger fund vintages. It is a broad incumbent operating in the same investment category but with deeper LP base and ability to write larger tickets than BIAT Capital Risque.
Regional players
- Wafa Gestion / Wafa Assurance PE arm: Wafa Gestion is a Moroccan asset and investment management group within Attijariwafa Bank, with PE activities targeting Moroccan SMEs. It is a regional peer with similar bank-affiliated PE structure serving Maghreb SME markets comparable to BIAT Capital Risque's Tunisian focus.
- Attijari Investissement (Invalis): Attijari Investissement is the PE/VC arm of Attijariwafa Bank, the Moroccan banking conglomerate, and a regional bank-affiliated peer to BIAT Capital Risque. Both operate bank-subsidiary PE platforms in Maghreb markets, making the structures directly comparable.
- Catalyst Principal Partners: Catalyst Principal Partners is a Casablanca-based PE firm targeting North African SMEs in Morocco, Tunisia, and Egypt. While primarily Moroccan-anchored, it competes with BIAT Capital Risque for cross-border North African mid-market deals and is highly comparable in strategy and ticket size.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights7 records
Customer concentration
BIAT Capital Risque social profiles
Digital presenceBIAT Capital Risque financial estimates
Financial estimateRevenue estimate
Valuation estimate
BIAT Capital Risque leadership team
Management profileNumber of profiles
Profiles9 records
BIAT Capital Risque funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BIAT Capital Risque M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BIAT Capital Risque
What does BIAT Capital Risque do?
BIAT Capital Risque is a Tunisian private equity and venture capital investment firm (Sicar) that provides equity and quasi-equity financing to Tunisian companies across all lifecycle stages. It invests tickets ranging from 1 MDT to 5 MDT per transaction, taking equity stakes of 10% to 49% over a 5-7 year investment horizon, with exit via promoter buyback, IPO, or strategic sale. As a wholly-owned subsidiary of Groupe BIAT, the firm manages approximately 550 MDT in funds under management.
Is BIAT Capital Risque a public or private company?
BIAT Capital Risque is a private company. It is currently operating.
When was BIAT Capital Risque founded?
BIAT Capital Risque was founded in 2000. It employs 11 to 50 people.
Where is BIAT Capital Risque based?
BIAT Capital Risque is headquartered in Tunisi, Tunisia, in the Africa region.
How does BIAT Capital Risque make money?
Three revenue lines are on record. Capital gains on exit is the primary driver. The others are dividend income and fund management fees.
Who are BIAT Capital Risque's main competitors?
Direct peers on record are Mediterrania Capital Partners, Africinvest and SPE Capital. Broad incumbents are Actis, Development Partners International, Helios Investment Partners and Emerging Capital Partners. Regional players are Wafa Gestion / Wafa Assurance PE arm, Attijari Investissement (Invalis) and Catalyst Principal Partners.
Does BIAT Capital Risque have an API?
No public API is recorded for BIAT Capital Risque.