Warburg Pincus completed its investment in Converge ICT Solutions.

Warburg Pincus, a US-based investment fund, completed its $250m investment in Converge ICT Solutions, a major provider of telecommunication and cable television services in the Philippines. The fresh funds would help Converge roll out infrastructure as it aims to capture 30% of the country’s broadband market in the coming years. “This partnership marks our first significant investment in the Philippines,” Saurabh Agarwal, Warburg Pincus, Managing director.