Convergence Partners Digital Infrastructure Fund L.P.

Equity : July 2022

BIO has invested USD 10 M in Convergence Partners Digital Infrastructure Fund, a Private Equity fund focused on enabling infrastructure for the digital economy across Sub-Saharan Africa.

Amount

€ 8,829,240.00

Type of investment

Equity

Beneficiary locations

Africa: Ghana, Kenya, Nigeria, South Africa

Investment field

Investment Companies & Funds

Activity

KK.64.301 Infra Fund

Organisation

Convergence Partners Digital Infrastructure Fund L.P.

Website

https://www.convergencepartners.com/

Domicile

Mauritius

The Convergence Partners Digital Infrastructure Fund is a Private Equity fund focusing on investments in the enabling infrastructure for the digital economy across Sub-Saharan Africa (SSA), with focus on fibre, wireless, data centres, 5G and digital service provider platforms, adding new connectivity in many countries in SSA where such infrastructure is currently limited.

The fund is the third fund of Convergence Partners, a seasoned pan-African Private Equity investor focused exclusively on the ICT sector in Africa, with currently USD 500 M assets under management deployed over 3 funds.

E&S Impact

Convergence Partners will

update the Environmental and Social Management System to include human rights management processes,
update the EDFI exclusion list,
ensure adequate internal and external E&S capacity for the Fund, and
develop a Climate Change Policy to tackle the climate change related physical and transition risks, and develop supporting tools for GHG emission accounting and reporting.

Current situation

The Fund has already an ESMS in place to ensure E&S risks are properly assessed with existing tools and counts with external expertise for the current pipeline.

Risk Category: B