TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Unlawful Eskom strike costing South Africa three stages of load shedding

      1 July 2022

      Striking Eskom workers will face consequences: De Ruyter

      1 July 2022

      The AI tool that has changed my life as a developer

      1 July 2022

      Google.co.za is down and the domain is pending deletion

      1 July 2022

      US files charges over South African bitcoin fraud scheme

      1 July 2022
    • World

      Meta girds for ‘fierce’ headwinds

      1 July 2022

      Graphics card prices plummet as crypto demand dries up

      30 June 2022

      Bitcoin just had its worst quarter in a decade

      30 June 2022

      Samsung beats TSMC to 3nm chip production

      30 June 2022

      Napster plots crypto comeback

      29 June 2022
    • In-depth

      The NFT party is over

      30 June 2022

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022

      Everything Apple announced at WWDC – in less than 500 words

      7 June 2022
    • Podcasts

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022

      Everything PC S01E04 – ‘The story of Intel – part 2’

      1 June 2022
    • Opinion

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Convergence closes $200m infrastructure fund

    Convergence closes $200m infrastructure fund

    News By Duncan McLeod28 July 2015
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Andile Ngcaba
    Andile Ngcaba

    Convergence Partners, the investment management firm established in 2006 by businessman Andile Ngcaba, has announced the successful final close of its Convergence Partners Communications Infrastructure Fund.

    The fund has secured investment capital of more than US$200m (R2,5bn). Convergence Partners said this makes it the largest fund dedicated solely to information and communications technology infrastructure in Africa.

    “The fund reached its final close with capital commitments from the Public Investment Corp, acting on behalf of the Government Employees Pension Fund, and an Africa-focused fund of funds,” the company said.

    Additional investors in the fund include Convergence Partners (as sponsors), the International Finance Corp (IFC), the European Investment Bank, the Dutch Development Bank, the Development Bank of Southern Africa and the CDC Group.

    The fund has already invested in a number of businesses, including Comsol, FibreCo and Synergy Communications.

    “It is anticipated that the fund will deploy capital to portfolio investments across the African ICT infrastructure spectrum, improving access to technology as well as communication and broadband services,” Convergence Partners said. The company has opened an office in West Africa, where it intends making a number of investments.

    “We believe the current fund size is well suited to the scale of infrastructure investment opportunities we are seeing across the continent, including fibre, data centres, wireless/spectrum, fintech and ICT platforms that enable e-learning and broadcast and media,” said Ngcaba, who chairs the Convergence Partners board.  — © 2015 NewsCentral Media

    Andile Ngcaba Comsol Convergence Partners FibreCo PIC Synergy Communications
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleEscrow service launched for online classifieds
    Next Article Advtech stares down ‘hostile’ Curro

    Related Posts

    Unlawful Eskom strike costing South Africa three stages of load shedding

    1 July 2022

    Striking Eskom workers will face consequences: De Ruyter

    1 July 2022

    The AI tool that has changed my life as a developer

    1 July 2022
    Add A Comment

    Comments are closed.

    Promoted

    Billetterie simplifies interactions between law firms and clients

    30 June 2022

    Think herding cats is tricky? Try herding a cloud

    29 June 2022

    How your business can help hybrid workers effectively

    28 June 2022
    Opinion

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.