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Convergence Partners latest fund to drive digital inclusion in Africa
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Convergence Partners raises US$120m in latest fund to drive digital
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Convergence Acquires Ctrack Operations
Convergence Partners, a tech investor in Africa, has entered into an agreement with
Inseego Corp. to acquire 100% of
Ctrack operations in Africa and the Middle East. This is the first investment for its third fund,
Convergence Partners Digital Infrastructure Fund.
Ctrack is a telematics software-as-a-service digital infrastructure platform providing fleet management, insurance and weather telematic solutions and asset tracking solutions to its subscribers in Africa and the Middle East. The business’ IOT and data analytics capabilities
are a component of an emerging sector in Africa. Convergence expects it to be a good fit with its strategy of identifying high growth market players that build digital infrastructure.