Fri. Sep 29th, 2023
Solcon Capital to Expand Investments in Satellite-Focused Companies

Solcon Capital, an investment firm founded by businessman Andile Ngcaba, plans to increase its investments in satellite-focused companies to provide space telecommunications services to industries worldwide. Formerly known as Convergence Partners Investments, Solcon Capital specializes in sourcing and investing in emerging companies with significant growth potential in various areas, including generative artificial intelligence, big data, cyber security, and space technology.

Under its space technology portfolio, Solcon Capital is particularly interested in satellite-based data analytics, satellite navigation, satellite mapping, and satellite data acquisition. These technologies play a crucial role in processing, analyzing, and interpreting data collected via satellites. Satellite mapping, for example, can produce geospatial data and information for monitoring the Earth and making informed decisions about ecological issues.

While the specific companies targeted by Solcon Capital have not been disclosed, Ngcaba emphasizes that their focus is on innovative and promising deep-tech ventures within the satellite industry that are already established and experiencing growth. Solcon Capital’s current investment portfolio includes companies such as ESET Southern Africa, Inala Systems Integrator, Seacom, LifeQ, and Inquba.

Although there is no immediate plan to provide satellite internet connectivity, Solcon Capital is dedicated to leveraging satellite data and analytics in its investments. The company aims to become a major global deep-tech investment firm and a reliable long-term partner for the companies it invests in. In addition, Solcon is developing an AI-based investment platform called Solcon 360, which will enable investment companies to capitalize on generative AI technology and create customized investment models.

Solcon Capital is also committed to funding African solutions and driving the growth of digital infrastructure companies across the continent through the Convergence Partners Digital Infrastructure Fund. The fund, which closed at $296 million in January, will focus on investing in infrastructure needs in Africa’s digital ecosystem, including fiber, wireless, data centers, 5G, cloud, internet of things, AI, fintech, and network virtualization. The fund’s investments aim to stimulate entrepreneurship, innovation, skills development, and job creation throughout Africa.