DIF Capital Partners signs agreement with Canada Infrastructure Bank for further investments in rural Manitoba in partnership with Valley Fiber
DIF Capital Partners is expanding its presence in the Canadian telecom infrastructure sector via its partnership with Valley Fiber.
The manager’s DIF Core Infrastructure Fund II (DIF CIF II) and its portfolio company Valley Fiber have agreed to invest in the Manitoba Fiber Project together with the Canada Infrastructure Bank (CIB).
In April last year, DIF CIF II invested an undisclosed amount to buy a majority stake in Valley Fiber. Valley Fiber was incorporated in 2016 and has built a presence in Manitoba, constructing telecommunications infrastructure to service historically underserved rural Manitoban communities.
DIF said the latest agreement with CIB will significantly grow DIF CIF II’s investment in Manitoban rural communities and Valley Fiber.
Willem Jansonius, head of DIF CIF, said: “The collaboration with Valley Fiber and CIB have proven to be very successful and this investment represents our next step into the fast-growing telecom infrastructure sector.”
In addition, DIF CIF II has extended its capital commitment to Valley Fiber to fund future organic growth and add-on opportunities in the near term. Valley Fiber and DIF are committed to the partnership of bringing broadband to underserved communities in Canada.
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