Adlevo Capital Managers, a private equity fund manager focused on investments into technology-enabled businesses in sub-Saharan Africa, and Intel Capital, Intel’s global investment and M&A organization,have completed an expansion investment into Rancard, a provider of cloud based software for mobile content discovery and delivery, focused on Africa.
Launched in 2001, Rancard has developed a cloud-based social recommendations engine called ‘Rendezvous’, which maps connections among mobile users and then uses this mapping of shared interests as a basis for recommending content to consumers.
The deal marks Intel Capital’s first investment in West Africa. Intel Capital is represented in the region by Sam Mensah, who is Investment Director for sub-Saharan Africa.
[Image Courtesy: Rancard]