Since the end of cold war, mediation processes have become more and more complex. Today, peace mediation includes a variety of actors, ranging from states, international organizations and NGOs to the private sector. Despite a growing number of practical examples for business engagement in conflict transformation, there are only a few insights into the contributions of business actors to mediation processes. Thus, the aim of this working paper is to shed light on this less researched and discussed issue by assessing: (1) the types of business actors that are involved in mediation processes; (2) the different roles that business actors can play in peace mediation; (3) how and when they can best be involved in the mediation process; and, (4) the specific circumstances and context factors that influence their involvement. The results show that private business actors have an important role to play in Track 1 mediation processes, by providing resources, expertise, networks, and by lobbying for peace. While this research focused on track 1 and 1.5 mediation processes, the study finds that (local) business actors have the potential to play a relevant and active role in lower tracks as mediators and facilitators.