Deals

Telecomms May 2, 2018

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.

“This funding takes us a step closer to have our full-fiber 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.”

Jeremy Chelot, Chief Executive of Community Fibre

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

Space: Telecomms

Other lawyers and advisors: Osborne Clarke and others

Total

£25 million

Invested