A groundbreaking partnership between Andile Nqaba's Solcon Capital and IFC was announced today. This strategic partnership aims to identify and accelerate investment opportunities within the deep technology sectors of India and South Africa, driving the digital economies of these vibrant regions.
Under the agreement, IFC and Solcon Capital will work together to identify and finance promising companies operating in the deep technology space.
The focus will be on key areas such as 5G, AI, IoT, big data, and cybersecurity.
This partnership represents a harmonious blend of IFC's extensive expertise in private sector investments in emerging markets and Solcon Capital's 20 years of experience in cultivating innovative ventures in deep technology fields. .
“This exciting partnership combines IFC’s expertise in supporting private sector growth in emerging markets with Solcon Capital’s deep technology investments, insights and strong global investment track record.”IFC Africa・Sarvesh Suri, Regional Industry Director for Infrastructure and Natural Resources said: “This is an opportunity to build on our collective strengths to make a lasting impact by driving innovation and growth in the deep tech sector in South Africa and India, as IFC expands its reach into global infrastructure tech. This is a unique opportunity to take advantage of it.”
The deep tech sector is on an unprecedented growth trajectory. The 5G deep structure market alone, a key segment of this space, was valued at approximately $20.19 billion in 2022 and will surge to $348.76 billion by 2030, at a compound annual growth rate (CAGR) of It is expected to be 45.2%. Similarly, the IoT market was valued at approximately $544.38 billion in 2022 and is expected to expand to $3,352.97 billion by 2030 at a CAGR of 26.1%. These areas are growing due to the increasing demand for high bandwidth and the integration of advanced technologies in various industries.
Technologies such as 5G and IoT are not only transforming industries, but also having a profound impact on our daily lives and work. From revolutionizing internet access to transforming industrial operations to empowering the healthcare, manufacturing, and retail sectors with AI and big data, these advances are leading us to a more connected, efficient, and smarter society. Masu.
“This is a move that promises to reshape the deep technology landscape in both India and South Africa. This is a partnership that represents a strategic alliance aimed at developing and nurturing significant investment opportunities in the deep technology space. “By combining IFC's deep experience and Solcon's 20 years of commitment to leading deep technology innovation, these investments will accelerate the digital economy in both markets.” CEO Pramod Venkatesh said.
“Through our partnership with IFC, we aim to accelerate the development of deep tech companies in both regions, leverage diverse talent and markets, and foster mutual collaboration,” said Andile Nqaba, Chairman of Solcon Capital. We are committed to fostering a thriving technology ecosystem that fosters innovation and growth.”
This strategic partnership between IFC and Solcon Capital marks a new chapter in the evolution of the deep technology sector, setting the stage for enhanced growth, innovation and collaboration across India and South Africa.