DIF Capital Partners has led a more than €250 million ($273 million) debt and equity funding round to help Valoo expand its optical fiber rollout in Finland.
Valoo builds and operates fiber-optic networks across Finland. It does not charge customers for the construction of network connections to their homes. Instead, it bases its business model on long-term customer relationships to provide internet services. The expansion will bring fiber connectivity to an estimated 300,000 households in underserved regions and municipalities.
DIF made the equity investment through its CIF III fund. The funding is a follow-up to the initial investment made by DIF’s CIF I fund, which supported the first part of the growth trajectory of the company. The funding round also was backed by Tesi (Finnish Industry Investment) and other investors, and senior debt was provided by a banking group consisting of SEB, NORD/LB and NIBC.
“Our follow-up investment in Valoo enables it to