Convergence Partners Investments, a deep-tech investment firm established by Andile Ngcaba in 2003, has recently rebranded itself as Solcon Capital. This rebranding coincides with the company’s strategic shift towards empowering global deep-tech growth through platform economics.
Solcon Capital, previously known as Convergence Partners Investments, was the first permanent capital vehicle in the Convergence Partners portfolio. Andile Ngcaba, the founder, remains actively involved in driving the growth of Convergence Partners, which will continue to focus on private equity investments through its digital infrastructure funds, both current and future.
Under its new name, Solcon Capital will primarily concentrate on international deep-tech investments, specifically in the areas of generative AI, large language models (LLM), synthetic data and big data, cyber security, and quantum computing. The company aims to leverage the benefits of scale and platform economics across South Africa, India, and Southeast Asia. Solcon Capital is committed to leading the way in innovation and disruptive solutions, exemplified by the upcoming launch of its flagship AI-based investment management platform, Solcon 360, scheduled to be unveiled during the company’s 20th anniversary celebrations in October.
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Solcon 360 will serve as a comprehensive platform, empowering investment firms to more effectively manage their pipelines, virtual data rooms, and portfolio operations. Utilizing its own large-scale LLM capabilities, Solcon 360 will enable investment companies to capitalize on generative AI and develop customized models tailored to their specific investment needs.
In line with the rebranding, Solcon Capital has announced the appointment of Pramod Venkatesh as the new CEO, effective from August 1. Venkatesh brings extensive experience in managing and building deep-tech companies, gained from his tenure in Silicon Valley. Prior to joining Solcon Capital, he served as the group CTO of inq., where he played a pivotal role in developing products and solutions related to AI, SDN, and edge computing.
Andile Ngcaba, Chairman of Solcon Capital, expresses excitement about the company’s future as one of the leading global deep-tech investment firms. Ngcaba highlights Solcon Capital’s 20-year history of innovation and disruptive investments in various projects such as undersea cables, long-haul fiber, and big data initiatives. Ngcaba also commends the appointment of Pramod Venkatesh, expressing confidence in his ability to execute Solcon Capital’s 2035 strategy.
Brandon Doyle, Director of Solcon Capital, emphasizes the strategic nature of the rebranding, taking into account Convergence Partners’ significant growth over the past two decades and its expansion into new Asian markets. Doyle looks forward to leveraging cutting-edge technologies to enhance portfolio management capabilities and drive the company’s success.
To celebrate its 20th anniversary, Solcon Capital plans to host a conference and hackathon focusing on Web 3.0 and generative AI in Sandton, South Africa, on October 25. This event will provide a platform for Solcon Capital to showcase its dedication to innovation and its role in shaping the future of deep-tech investments.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard