FMO approves $30m commitment

The Netherlands-based entrepreneurial development bank has backed a Sub-Saharan Africa-focused digital infrastructure fund.

Institution: FMO
Headquarters: The Hague, Netherlands
AUM: €9.30 billion

FMO has confirmed a $30 million commitment to Convergence Partners Digital Infrastructure Fund, according to a press release. The fund, managed by Convergence Partners, was launched this year with a target size of $250 million. It will make growth capital investments in mid-sized Sub-Saharan African firms seeking growth or brownfield/greenfield investments in the digital infrastructure sector.

As illustrated below, the development bank’s recent infrastructure fund commitments have mainly focused on unlisted equity opportunities in energy, renewables, telecoms and social infrastructure.

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