Funds advised by Warburg Pincus, a global private equity firm focused on growth investing, and DTCP have reached an agreement to acquire a majority stake in Community Fibre alongside its existing investors, Amber Infrastructure and RPMI Railpen.
Financial terms of the transaction were not disclosed.
Community Fibre’s mission is to make London a Gigafast city, a key U.K. government target. Community Fibre said it is aiming to fiber-enable 1 million households by 2023, funded by the new shareholders.
The market opportunity for Community Fibre is significant. Demand for high-speed, high-quality internet to the home (FTTH) and to businesses (FTTB) is growing exponentially, yet a large proportion of the United Kingdom’s capital is offered some of the poorest and slowest broadband services in Europe.
“In a post COVID-19 world, digital connectivity will be more crucial than ever,” said Graeme Oxby, CEO of Community Fibre. “With further new investment,
