We’ve partnered with Sequoia securing £60m new funding and bringing total investment to £115m

We’re pleased to announce that we have secured a further £60 million investment from new investors to accelerate the construction of our full fibre multi-gigabit broadband network to 25 towns across the East of England.

The new £60 million investment has been agreed with FTSE 250 listed investor in economic infrastructure debt, Sequoia Economic Infrastructure Income Fund (“Sequoia”), and builds on our original £55 million backing from AtmosClear Investments, Kompass Kapital and Thesaurium bringing total funding to date to £115m.

We’re on a mission to reach 1 million homes by 2025 and this investment will accelerate the build helping to unlock the digital potential of the region for both residents and businesses.

Hugo Sykes, Managing Partner, AtmosClear Investments said: “Sequoia is a UK listed investment fund and we are delighted to welcome them on board. Their culture combines well with that of AtmosClear Investments, Kompass Kapital and LightSpeed and they share our ambition to bring 21st century technology and digital infrastructure to underserved communities.”

Tim Prussing, VP, Sequoia Investment Management Company commented: “We are delighted to provide this facility that will enable Lightspeed to deliver what has become an essential service to parts of the UK. Critical to our decision to lend was the sustainable approach of Lightspeed and positive impact of connecting underserved parts of the country to full fibre broadband, which will address regional inequality and help in levelling up the country.”

Steve Haines, CEO, LightSpeed Broadband said: “We are thrilled to have secured this £60 million from Sequoia which builds on our initial £55 million investment. There is more to come. These funds will be used to establish LightSpeed as the leading, ‘quality above all else’, regional ISP.

Our strategy of building in an environmentally conscious way and providing a first-class locally-based customer experience has created ‘The LightSpeed Way’ and a blue-print for future growth.” 

More information about Sequoia:

Sequoia is specialist investor in economic infrastructure debt with $1.8 billion assets under management, across twelve mature jurisdictions and a range of sectors. The company’s investments support the provision of infrastructure on a sustainable basis and creates social and economic benefits across the geographies in which it invests.