Pension investor puts $140 million into Navajo fibre routes
Pension investor TIAA has backed Arcadian Infracom's new, long-haul fibre backbone with "up to US$140 million".
The project marks Arcadian’s first long haul fibre route and will connect Phoenix to Salt Lake City and Phoenix to Denver via remote rural and tribal communities, including the Navajo reservation.
“We are honored to work with such a respected financial leader as TIAA, which is committed to supporting early-stage digital infrastructure projects," said Dan Davis, CEO and co-founder of Arcadian.
"TIAA’s investment has the ability to significantly scale Arcadian’s capital-intensive business across multiple fibre routes as well as create additional synergistic investment opportunities as we route the digital ecosystem directly through rural and tribal markets. As the son of a retired music teacher from rural Illinois, I am personally committed to the mission of TIAA and its founder, Andrew Carnegie, to provide long term financial security for education professionals,” Davis added.
The routes were enabled by the 2018 value sharing partnership between Arcadian and Navajo Nation and will create economic development opportunities in rural and tribal communities along Arcadian routes.
For Arcadian the project will enable network diversity, resiliency, security and improved latency for its global cloud, content, carrier, cable and ISP customers.