Convergence Companions Investments, the deep tech investor began by Andile Ngcaba in 2003 has rebranded to Solcon Capital as the corporate launches an enormous push to empower international deep tech progress by way of platform economics.
Convergence Companions Investments (now Solcon Capital) was the primary automobile structured as a everlasting capital automobile within the Convergence Companions secure. Andile Ngcaba stays firmly invested in and continues to drive the expansion at Convergence Companions, which is able to proceed to give attention to non-public fairness by way of its present and future digital infrastructure funds.
Based on Andile Ngcaba, Chairman of Solcon Capital: “Solcon Capital has 20-year historical past of innovation and disruption by way of investments in firms which have constructed undersea cables, long-haul fibre, massive information, and many others. On this new chapter, Solcon Capital can be often known as one of many main international deep tech funding firms.”
Solcon will give attention to worldwide deep tech investments in Generative AI & Massive Language Fashions (LLM), Artificial Knowledge & Huge Knowledge, Cybersecurity, and Quantum Computing throughout South Africa, India, and Southeast Asia, leveraging scale by way of platform economics.
As a part of the rebranding, Solcon additionally introduced the appointment of Pramod Venkatesh as CEO beginning 1 August 2023. He’ll spearhead the worldwide progress of the corporate. Pramod has in depth expertise in managing and constructing deep tech firms from the bottom up [YT1] garnered from Silicon Valley. Previous to becoming a member of Solcon Capital, Pramod was the Group CTO of inq. the place he was accountable for constructing merchandise & options round AI, SDN & Edge Computing.
“We’re excited to convey onboard Pramod Venkatesh, with in depth expertise in Silicon Valley and experience in constructing deep tech firms. Pramod will execute Solcon Capital’s 2035 technique. With Pramod on the helm, we’ll proceed to disrupt deep tech and are excited to indicate what the long run holds,” added Ngcaba.
Solcon is engaged on its flagship AI-based funding administration platform, Solcon 360, to be unveiled at its 20th anniversary celebrations this October. This platform will allow funding firms to handle pipelines, VDR, and operations of their portfolios extra successfully. With its personal Massive Scale Language Mannequin (LLM), Solcon 360 will permit funding firms to capitalise on Generative AI and construct customized fashions tailor-made to their funding wants.