Convergence Partners, the leading private equity investor dedicated to the technology sector across sub-Saharan Africa, said it has successfully raised $296 million Convergence Partners Digital Infrastructure Fund surpassing its initial target by over 18%.
The recent close of CPDIF marks a significant milestone for the company, as it represents Convergence Partners’ largest fund to date, bringing total funds under management to more than $600m, according to Tech Economy.
CPDIF was launched in June 2020 and had a first close of $120m in July 2021. The Fund is focused on investing in digital infrastructure opportunities across sub-Saharan Africa. 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.
“The closing of CPDIF is a major step forward for Convergence Partners and for the development of the digital economy in sub-Saharan Africa,” says Brandon Doyle CEO and Founding Partner of Convergence Partners – “This closing is just the beginning, and we look forward to working with our investors and partners to build the digital infrastructure required to support the growth of the region’s digital economy.
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