Gresham House’s British Sustainable Infrastructure Fund (BSIF) has invested £164m (€191m) in fibre broadband provider Borderlink Broadband.
Gresham House said the investment is being made via its BSIF I and BSIF II funds.
Borderlink, trading as rural broadband provider GoFibre, serves residential and business customers across Scotland, Cumbria and Northumberland.
BSIF’s £164m funding, together with various government schemes, will enable Borderlink to accelerate its delivery of both rural and urban fibre and gigabit networks.
This investment follows the previous BSIF I investment of £10.5m in April last year, which supported Borderlink in growing its team by more than 70 employees and boosting the rollout of fibre broadband in the Scottish Borders, Lothian, Northumberland and Angus.
Peter Bachmann, managing director, sustainable infrastructure at Gresham House and fund manager of BSIF, said this is the largest investment BSIF has made into the fibre infrastructure space, “a testament to our confidence in Borderlink and our conviction in the importance of excellent internet connectivity to conquer digital inequality across the UK”.
Stevie Ingamells, associate director, sustainable infrastructure at Gresham House, said: “Our investment is both financial and strategic as we have worked with the business to help set its future direction.
“Our investment reflects the top-to-bottom quality of the Borderlink business, which has achieved outstanding growth since its foundation in 2017. For the communities the business serves, this funding will enable great progress in delivering more widespread and equitable access to broadband connectivity, bringing real-world benefits to individuals and businesses alike.”
Alex Cacciamani, founder and chief executive officer at Borderlink, said: “This latest investment is a huge vote of confidence in the Borderlink family and we all look forward to rewarding Gresham House’s confidence by delivering our ambitious growth plans.”
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