Convergence Partners invests in technology venture capital firm 4Di Capital

Convergence Partners invests in technology venture capital firm 4Di Capital

Convergence Partners is pleased to announce its participation as the newest investor in 4Di Capital’s venture capital (VC) fund 1. Convergence Partners will be an equal limited partner in the fund alongside the Rupert family and E Oppenheimer & Son.

Leveraging the accomplished capabilities of such highly regarded investors with our team’s dynamic and unique approach is a powerful combination for unlocking South African entrepreneurial talent in an increasingly globally integrated technology market place. This vote of confidence from a leading local investor comes at a time when it is challenging to raise capital for this asset class globally, particularly in South Africa,” said Justin Stanford, a founding partner of 4Di Capital and co-founder of the Silicon Cape Initiative.

As a result of the investment, 4Di Capital’s assets under management will double, as the firm will also take over Convergence Partners’ current portfolio of technology venture investments in the form of Integrat, Bloodhound Technologies and Skillpod Media.

Said Brandon Doyle, CEO of Convergence Partners: “Historically, we have focused on ICT investments across the full spectrum from smaller early stage companies through to large multinationals and infrastructure projects. With the successful launch late last year of the Convergence Partners Communications Infrastructure Fund, our focus has increasingly been shifting to big ticket pan-African ICT investments that accelerate digital access and development across the continent. The partnership with 4Di will allow us to channel our efforts through experienced experts who will also take over management of our existing VC interests.”

“We have spent many years assessing the global VC environment and have built a deep understanding of the ecosystem and key players involved,” Andile Ngcaba, Chairman of Convergence Partners, continued. “We were thus looking for partners who have themselves started up successful early stage tech ventures and, importantly, who have built a strong bridge into the global VC market, particularly in the U.S. We believe this transaction aligns us with an experienced and passionate management team as well as other investors who support South African technology innovation.”

Laurie Olivier, U.S based partner of 4Di Capital commented, “We couldn’t think of better partners to add to our already stellar investor base than Andile Ngcaba and his team, who have the vision and deep technological understanding to get behind our ideas, and who share our values of partnership and collaboration.

Press Release

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