Convergence Partners – an investment management firm in South Africa has invested a total of USD 20 million in Venture Garden Nigeria, a software company that provides I.T solutions for companies, and governmental organizations.
The deal is part of the USD200 million Convergence Partners Communication Infrastructure Fund; the largest fund for ICT infrastructure in Africa.
In a news release Convergence Partners said “The injection of substantial new equity capital into VGN will allow the company to accelerate its growth plans domestically in Nigeria, and across the West Africa region.” The firm also emphasized that “The current solutions are tailored for financial services, education, aviation, power, downstream oil, and gas, and cybersecurity.”
Convergence Partners has investments in South Africa’s Telkom, NedBank Group, Vodacom, and FibreCo, and are planning on opening an office in Lagos in a bid to enhance their presence in the West African sub-region.
Image: Convergence Partners
