Swiss Investment Fund
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Convergence Partners Digital Infrastructure Fund

Convergence Partners Digital Infrastructure Fund (CPDIF) invests growth capital in the digital infrastructure and digital services sectors in Sub-Saharan Africa. CPDIF is the third fund managed by Convergence Partners. SIFEM committed USD 15m to CPDIF.

Convergence Partners Digital Infrastructure Fund

Convergence Partners Digital Infrastructure Fund (CPDIF) invests growth capital in the digital infrastructure and digital services sectors in Sub-Saharan Africa. CPDIF is the third fund managed by Convergence Partners. SIFEM committed USD 15m to CPDIF.

About the fund

Meaningful participation in today’s digital economy requires a high-speed broadband connection to the Internet. Digital infrastructure underpins better-functioning, more inclusive and more connected societies and is critical to delivering the UN Sustainable Development Goals (SDGs). According to the World Bank, Sub-Saharan Africa is the least connected region in the world with only 30% of the local population connected to the Internet in 2020.

The Fund invests in digital infrastructure and digital services with a vision of bridging the digital divide in Africa. Specifically, it aims to enhance the availability, quality, capacity, and affordability of networks with an objective of digital inclusion in Africa.

The Fund enhances the digitalization of existing SMEs and mid-market companies and supports the emergence of start-ups and other innovative digital companies (SDG 8). Investments in fibre and wireless infrastructure and digital services can be expected to contribute to provide universal and affordable access to the Internet (SDG 9). Besides SDG 8 and SDG 9, the Fund is an enabler of the achievement of the SDGs more broadly. Digital infrastructure increases access to information and services, establishes connectivity between people and organizations, drives productivity and resource efficiencies, and provides the backbone for innovation and digital economies.

Investments by the fund

             
Date Name Country Industry Status
Company 1 South Africa Communications Active
Company 2 Nigeria Communications Active
Reference code
2021-04
Status
Active
Date of commmitment
July 2021
Date of exit
-
Fund size
USD
250,000,000
SIFEM commitment
USD
15,000,000
Asset class
Private Equity
Investment strategy
Investment through Fund
Fund manager
Convergence Partners