IFC partners with Solcon Capital to explore deep-tech investments in India, South Africa

Investing in deep-tech: The International Finance Corporation (IFC), a global development institution, announced on Wednesday a partnership with technology-focused investment firm Solcon Capital. The collaboration aims to identify and nurture investment opportunities in the deep tech sector in India and South Africa, with a focus on driving growth in the digital economy in these markets.

The partnership will target key areas such as 5G, artificial intelligence (AI), the Internet of Things (IoT), big data, and cybersecurity. By combining IFC's expertise in supporting private sector growth in emerging markets with Solcon Capital's deep tech investment experience and global track record, the partnership seeks to accelerate the development of deep tech companies in both regions.

Sarvesh Suri, IFC's Regional Industry Director for Infrastructure and Natural Resources in Africa, highlighted the significance of the partnership, stating, "This partnership combines IFC's expertise in supporting private sector growth in emerging markets with Solcon Capital's deep tech investment acumen and outstanding global investment track record."

Andile Ngcaba, Chairman of Solcon Capital, expressed the firm's commitment to facilitating cross-collaboration and leveraging diverse talents and markets. Ngcaba stated, "Through our partnership with IFC, we aim to accelerate the development of deep tech companies in both regions and facilitate cross-collaboration, leveraging diverse talents and markets."

(With PTI inputs)