DEG Backs Two African Funds with $41 Million
Germany’s development finance institution, DEG has committed $20m to Convergence Partners Digital Infrastructure Fund (CPDIF) and $21m to Vantage Capital’s fourth mezzanine fund
Convergence Partners has a successful track record of investing across the technology and digital sectors across sub-Saharan Africa and has backed several companies with pioneering business models in their respective fields thus combining returns for investors with meaningful and sustainable market development.
DEG’s funding will provide growth capital to support African businesses in their pursuit to expand and densify the digital infrastructure for Africa’s ongoing digital transformation.
This investment in the digital infrastructure ecosystem will be a key enabler to boost entrepreneurship, innovation, skills development and job creation across the continent.
Photo courtesy of WOCinTech Chat.
Source: Africa Global Funds (link opens in a new window)
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