DIF Capital Partners is investing in Airtower Networks on behalf of its latest infrastructure fund targeting mid-sized, core-plus infrastructure companies.

The fund manager said the strategic investment in the developer and operator of wireless digital infrastructure will be the first investment for its DIF CIF III fund.

The DIF CIF series of funds target equity investments in telecoms, energy transition and transportation.

Airtower is seeking to become the largest provider of 5G neutral-host networks and wireless networks in buildings.

It plans to help building owners, property developers, enterprises and mobile-network operators manage their wireless infrastructure investments.

“DIF believes that the ongoing trend of cloud migration, where companies store their data and interact with their customers, vendors and partners in the cloud, will further increase the need for high-speed wireless internet connections,” said Willem Jansonius, partner and head of investments for the DIF CIF strategy.

“Similarly, in the residential and office space, ubiquitous 5G is essential for the new generation of smart buildings.”

Manny Dureja, founder and president of Airtower, said: “We’re excited about the injection of investment capital and sector expertise provided by DIF.

“The additional resources and broad support will give Airtower the capability to rapidly scale the success we’ve had providing innovative wireless and smart-building solutions for commercial real estate and cellular carriers.”