Macquarie Capital is to invest up to £30m development capital in rural superfast broadband business Voneus.
Proceeds will be used to refinance debt and support the roll out of high speed broadband.
Voneus uses Fixed Wireless Access (FWA) technology to provide superfast broadband to rural homes and businesses in the UK.
It began its commercial life in 2015 and has installed superfast broadband in around 4,000 homes and businesses in 25 rural communities, with a footprint that covers Lancashire and Yorkshire as well as the Cotswolds and Devon.
Voneus Chairman Robert Bates commented: “Macquarie Capital’s backing is an endorsement of Voneus’ business model and vision, as well as an indication of how much work still needs to be done to connect the many homes and business across the UK that still do not have access to decent broadband services.
"Not only will it help us speed up the roll out of fixed wireless services in hard-to-reach communities, it means that, longer term, we will be able to add full fibre broadband to our portfolio. This will be a complete game-changer for these hitherto neglected areas.”
Macquarie Capital specialises in infrastructure development with £20bn currently under construction or development globally.
Oliver Bradley, MD Digital Infrastructure Investing at Macquarie Capital (who led the transaction) said: “The roll out of superfast and ultrafast broadband has too often focused on the UK’s urban centres, leaving untapped investment requirements in the UK’s rural communities.
"There is a significant opportunity to work with Voneus to accelerate the deployment of UK rural broadband. This will help unlock significant economic and social benefits for the UK.”