Government’s digital infrastructure fund leads £25m investment into Community Fibre
Community Fibre has raised £25 million in a series C funding round led by the National Digital Infrastructure Fund, with existing shareholder (and major UK pensions investor) RPMI Railpen following its money.
With only around 3% of UK homes currently connected with full-fiber ultrafast broadband, Community Fibre is aiming to supply full-fiber broadband to 500,000 homes by 2022.
This was the first major investment by the National Digital Infrastructure Fund, which has £400 million in government funds under management which are pointed at boosting investment in the UK’s broadband infrastructure.
Jeremy Chelot, Chief Executive of Community Fibre, commented “This funding takes us a step closer to have our full-fibre network available to social housing or private landlords in every borough of London. Thousands of people will benefit from this investment through a community engagement and upskilling programmes we run on our installment projects.”
We were very pleased to have advised management on this transaction, with Jeremy Glover leading the team.
Deal/project: Series C funding round
Date closed: March 2018
Press releases: Financial Times
Computer Business Review
Other lawyers and advisors: Osborne Clarke and others