Briefs
The partnership will expand fiber builds in North Carolina.
Photo of Bald Head Island, North Carolina
June 12, 2024 – Fiber internet provider Ripple Fiber announced its partnership with Post Road Group, an alternative digital infrastructure investment firm, on Tuesday.
North Carolina-based Ripple Fiber said that the transaction will “play a pivotal role in the rapid expansion of multiple networks, providing capital for deployment to over 400,000 homes by December 2025.”
“This transaction serves as a critical step as we move from equity to debt funding in the progress of Ripple Fiber’s business model as we aim to rapidly expand across the country,” said Ripple Founder and CEO Greg Wilson. “It also marks a key milestone for this seasoned sponsor grouping as collaborations like these strengthen deployment strategies and timelines, allowing providers to bring future-proof fiber optic technology to more and more Residents.”
Post Road Group will provide a real estate credit platform for construction financing focusing primarily on private credit and private equity investments.
“Post Road Group is committed to supporting industry-disrupting initiatives, including those that drive the expansion of fiber optic network deployment. With this partnership, we are investing in a mission we believe in and are confident in the value Ripple Fiber is bringing to communities nationwide,” added Andy Runk, managing director of Post Road Group.
The company said that it is focused on contributing to the global growth of broadband by identifying business models in the industry that present “opportunities for fundamental change or require high degrees of innovation to effectively serve their customers.”
In May, Ripple Fiber announced its latest expansion across North Carolina, which it expects to enhance broadband connectivity for more than 45,000 residents in the state. By the end of 2024, residents in eight additional municipalities will have access to Ripple Fiber’s 10GB-ready network.