Tuesday, March 26, 2019 UTC

AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Private Equity > Deals

Snapt receives $3m from Convergence and others

Africa Global Funds
Dec. 11, 2018, 9:43 p.m.
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Word count: 509

Convergence Partners, Nedbank and Sanari Capital have invested $3m in Snapt, a disruptive application delivery controller (ADC) company, in series A funding.

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Convergence Partners, Nedbank and Sanari Capital have invested $3m in Snapt, a disruptive application delivery controller (ADC) company, in series A funding.

“Our continued investment in Snapt is due to our belief in their vision that there is a software revolution happening, and that their software-based ADC helps developers take advantage of this and optimize their applications and infrastructure at the root,” said Andile Ngcaba, Chairman, Convergence Partners. 

“We look forward to working with them during their expansion into new markets and opportunities.”

This new investment will be used to expand sales and marketing efforts globally, including expansion of its US presence and worldwide channel program, in addition to key research and development initiatives.

As Snapt continues to innovate in the ADC market, the company is working to address the changing nature of network architecture in response to growing data and security concerns, while developing new protocols that define how applications are delivered.


“Snapt offers a new approach to the ADC market, and has made great progress building a solid product,” said Johann van Zyl, of Nedbank CIB’s Venture Capital business. 

“We are impressed by their strong customer traction in enterprise, and are aligned with their vision of a software-based ADC for DevOps. We see tremendous room for innovation as organizations move to the cloud and deploy containers and other new infrastructure. We look forward to partnering with the very dedicated Snapt team during this next phase of growth.”

“Snapt’s understanding of what today’s networks and engineers need has positioned them at the front of the market for DevOps, enabling modern architecture while benefiting from leading-edge ADC technology,” said Samantha Pokroy, CEO at Sanari Capital. 

“The team combines its technology leadership with a strong focus on execution and scalability. We are excited to partner with Snapt in their global expansion.”

Snapt’s ADC stands out in a market of legacy offerings by providing a modern, software-only load balancing, acceleration and security solution that is built for flexibility, performance and virtualization.

Currently used by companies ranging from start-ups to the Fortune 500, Snapt prides itself on being the leading solution for DevOps, which represents the future of ICT enablement for start-ups and enterprises alike. 

Snapt’s ADC is easy to use and deploy, and is built around modern models and use cases, with key value offerings including flexibility of environments and user empowerment. 

Snapt allows DevOps to focus on optimizing, enhancing and building on any network and environment – all while ensuring their critical infrastructure remains safe and secure.

“The ADC market is evolving quickly, and Snapt is the perfect product to meet companies’ needs for more advanced ADC solutions that are designed for DevOps, including cloud, cloud-native and virtualized deployments,” said Dave Blakey, Snapt co-founder and CEO.
“We are very pleased to have developed a strong network of partners that can help drive our expansion and support our rapidly growing customer base as we execute the next stage of our IP strategy, ensuring that we continue to bring the most advanced ADC solutions to market.”

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