Convergence Partners Digital Infrastructure Fund L.P.
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
Investment field
Investment Companies & Funds
Activity
Organisation
Convergence Partners Digital Infrastructure Fund L.P.
Domicile
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
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