Last week, saw the launch
of a new Convergence Partners Communications Infrastructure Fund (CPCIF) from Convergence Partners. It is a pan African fund that
has raised $145 million (from the IFC, EIB, FMO, DBSA and CDC) that they are seeking
to invest in companies in communications, fibre, infrastructure, data centres
etc. in countries like Kenya , DRC, Rwanda, and Sudan.
The Fund will target
established companies with sound management, that are aiming to improve
products or quality, or add value to their services – to invest amounts of
about of $20-30 million in exchange for stakes of 15-49% with a horizon of about 10
years.
Their past portfolio
includes investments in Seacom, New Dawn (with Intelsat) and Internet Solutions
(who are taking over at Access Kenya and they plan to open an an East African
office soon.
Separately, in a nice post, @Wanjiku asks if there’s a racial bias in ICT funding from venture capitalists in Africa.
Separately, in a nice post, @Wanjiku asks if there’s a racial bias in ICT funding from venture capitalists in Africa.
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