Convergence Partners Investments has rebranded to Solcon Capital. The company plans to push into deep tech investments in emerging markets.
South Africa-based and pan-African present deep-tech investment firm Convergence Partners Investments is rebranding to “Solcon Capital” and making a push into global deep tech growth “through platform economics”.
Founded by South African businessman Andile Ngcaba in 2003, the firm was the first vehicle structured as a permanent capital vehicle in the Convergence Partners stable, which focuses on private equity through its current and future digital infrastructure funds.
“Solcon Capital has a 20-year history of innovation and disruption through investments in companies that have built undersea cables, long-haul fibre, Big Data etc. In this new chapter, Solcon Capital will be known as one of the leading global deep-tech investment companies,” Ngcaba said in a statement.
Under the new brand, the firm will focus on international deep tech investments in generative AI and large language models (LLM), synthetic data and big data, cybersecurity, and quantum computing across South Africa, India, and Southeast Asia.
Additionally, the rebranding also brought some executive changes, with Pramod Venkatesh assuming the position of CEO. Prior to joining Solcon Capital, Pramod was the Group CTO of inq., another Convergence Partners portfolio company.
“We are excited to bring on board Pramod Venkatesh, with extensive experience in Silicon Valley and expertise in building deep tech companies. Pramod will execute Solcon Capital’s 2035 strategy. With Pramod at the helm, we will continue to disrupt deep tech and are excited to show what the future holds,” added Ngcaba.
In January this year, Solcon Capital’s parent company Convergence Partners announced that it had closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million, surpassing its initial target by over 18%. The Convergence Partners Digital Infrastructure Fund is the firm’s biggest fund to date and brings its total funds under management to over $600 million.
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