A £75m funding package that will support TrueSpeed Communications' rollout of its ultrafast full fibre broadband network across the South West has been named as Insider's July Deal of the Month.
The injection from Aviva Investors, the global asset management business of Aviva, will enable the company to accelerate its expansion strategy to pass up to 75,000 homes and businesses in the region.
TrueSpeed was established in 2015 to develop fibre-optic infrastructure network across the South West. It currently provides high-speed broadband to residential and commercial customers throughout the Chew Valley, Somerset.
The corporate and banking team at South West law firm Thrings advised TrueSpeed in relation to the investment.
Ian Berry, head of infrastructure equity at Aviva Investors said: "I am delighted that Aviva Investors has helped bring this innovative partnership with TrueSpeed to fruition.
"This is another example of how we work to support the delivery of essential infrastructure in the UK, while also providing our institutional investor clients with access to long-dated income streams to help ensure the payment of pensions potentially decades into the future."