IFC & Solcon Capital Invest in Deep Tech in India, South Africa

New Delhi, Feb 28 (PTI) Global development institution International Finance Corporation (IFC) on Wednesday said it has partnered with technology-focussed investment firm Solcon Capital to explore investment opportunities in the deep tech sector in India and South Africa.

This strategic partnership is aimed at identifying and nurturing investment opportunities in the deep tech sector within India and South Africa to propel the digital economy in these burgeoning markets, IFC said in a statement.

The partnership will focus on areas such as 5G, AI (Artificial Intelligence), IoT (Internet of Things), big data, and cybersecurity.

"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," said Sarvesh Suri, IFC's Regional Industry Director for Infrastructure and Natural Resources, Africa.

Chairman of Solcon Capital Andile Ngcaba said, "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.