Primevest Capital Partners has collected €35 million ($36.5 million) of long-term financing from Hamburg Commercial Bank (HCOB) for its Communication Infrastructure Fund.
The funding will be used to expand fiber optic infrastructure in Germany.
The investment loan is funded under the German government's “Digital Infrastructure” KfW program, which was established to support the construction and expansion of the national fiber optic network. The fiber optic networks in Lower Saxony and North Rhine-Westphalia will be further expanded and leased to interested internet providers.
“We got to know Primevest CP as a very experienced investor in the field of digital infrastructure and are pleased to continue working together with this transaction,” said Inka Klinger, head of project finance at HCOB. “In a European comparison, Germany is well below the target of the European Commission, which is an average of 40 percent, with fiber optic penetration of almost 1