Adlevo Capital and Intel Capital Make Growth Capital Investment in Rancard (Sub-Saharan Africa)
Source: Adlevo Capital
Adlevo Capital Managers, a private equity fund manager focused on technology investments in Sub-Saharan Africa, and Intel Capital, Intel’s global investment and M&A arm, have invested in Rancard Solutions, a Ghana-based provider of cloud-based mobile software and services. Rancard’s services map connections among mobile users, allowing operators to deliver personalized recommendations and targeted content to their subscribers. The investment marks Intel Capital’s first in West Africa. Financial terms of the transaction were not disclosed.