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Bailey McCann, Opalesque New York: Convergence Partners a private equity firm focused on technology investing across sub-Saharan Africa, has closed its latest digital infrastructure fund on $296 million. The fund beat its hard target and was oversubscribed.
Convergence Partners Digital Infrastructure Fund (CPDIF) was launched in June 2020 and had a first close of $120m in July 2021.
CPDIF is focused on investing in digital infrastructure opportunities across sub-Saharan Africa. This includes investments in fibre networks, data centres, wireless, towers, cloud, Internet of Things (IoT), artificial intelligence (AI) and other critical digital infrastructure that is vital for the growth of the digital economy in the region. In addition to investing in physical assets, CPDIF is also aimed at developing and supporting initiatives that promote access to education, financial services, healthcare, and other essential services through digital technologies.
"As we are 7 years away from 2030 we commit to addressing SDGs and preparing Digital Infrastructure for Africa which is soon to be home to 2 Billion people with the youngest population on our planet," says Andile Ngcaba, Chairman and Founding Partner at Convergence Partners."We will continue to build on our original vision by investing in digital infrastructure that is a key enabler for digital inclusion. This fund will enable us to continue leveraging our deep knowledge of technology, investments and the African ma...................... To view our full article Click here
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