Venture Garden Nigeria, a software company providing solutions to governmental organizations and many other companies, has recently received a hefty investment of USD 20 million from Convergence Partners, a premium investment management firm in South Africa.
The Convergence Partners Communication Infrastructure Fund is as huge as USD 200 million. The investment is said to be a part of the largest fund for ICT Infrastructure in African continent.
In a recent interaction with media, the spokesperson of Convergence Partners said that the investment in Venture Garden Nigeria would further expand their business in Nigeria and many other parts in West Africa. The company has also clarified their move by emphasizing on the point that their solutions are specifically tailored for financial services, aviation, education, power, and gas and cyber- security.
It is not for the first time that Convergence Partners have made investments in some IT company, they have previously made investments in Vodacom, NedBank, Telkom and few other companies to expand their operations in different parts of Africa. Convergence Partners is not only limited to make investments, but they are also planning to open an office in Lagos for better market penetration and business expansion in West African sub-region.