Convergence Partners raises $200M for largest ever fund dedicated to Africa ICT infrastructure

Convergence Partners, an investment management firm focused on the African telecommunications, media and technology sector, has announced the successful final close of its Convergence Partners Communication Infrastructure Fund (CPCIF).

With capital of over USD 200 million, this is the largest fund dedicated solely to ICT infrastructure in Africa, says Convergence.

CPCIF reached its final close with capital commitments from the Public Investment Corporation (PIC), acting on behalf of the Government Employees Pension Fund (GEPF), and an Africa-focused fund of funds. Additional investors include Convergence Partners (as sponsors), the International Finance Corporation, the European Investment Bank, the Dutch Development Bank (FMO), the Development Bank of Southern Africa (DBSA) and the CDC Group. 

Read more: Convergence Partners raises USD 200 mln for African ICT – Telecompaper