2023-04-25 17:44:00
(Agence Ecofin) – Two months following the final closing of its largest investment fund, Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million, Convergence announces an investment in a group of fintechs.
Convergence Partners, which invests in the technology sector across sub-Saharan Africa, today announced $10 million in growth funding to 42Markets Group, an enterprise-focused investment group. of financial services. This capital will allow 42Markets to accelerate the development and expansion of companies in its Mesh, Andile and FXFlow portfolio.
« This is one of our first investments in the digital transformation of financial markets. We consider 42Markets as an emerging group in this field. Its portfolio companies have a long track record of consistent double-digit growth and a quality management team with deep capital markets expertise and experience said Brandon Doyle, managing director of Convergence Partners.
This commitment from Convergence Partners comes two months following the final closing of its largest investment fund, Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million. This vehicle launched in June 2020 focuses on investments in digital infrastructure in sub-Saharan Africa.
42Markets Group, which benefits from this new capital injection from Convergence, plans to develop its ecosystem of companies operating in the field of finance and capital markets. « With this injection of capital, we will be able to grow at the pace that the market for our platforms and services demands of us. commented Andries Brink (pictured), Group Managing Director of 42Markets.
Chamberlain Moko
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30/01/2023 – Convergence Partners announces the closing of its fund dedicated to digital infrastructures in Africa, at $296 million
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