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Pantheon invests $30m in Vertical Bridge

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Global infrastructure fund Pantheon Infrastructure has invested $30 million in US wireless infrastructure operator Vertical Bridge through a co-investment vehicle managed by DigitalBridge Group.

Last year, DigitalBirdge announced it would acquire a majority stake in Vertical Bridge for an undisclosed sum.

Pantheon, meanwhile, currently has $82.1 billion in assets under management and advice with more than 115 investment offices across the world.

The UK investment firm most recently invested in a European transport and logistics firm and has now expanded its venture into digital infrastructure.

Vertical Bridge is the largest private owner and operator of tower and wireless communication infrastructure in the US, with a portfolio of more than 8,000 towers and 300,000 total sites.

Its portfolio spans 50 US states and Puerto Rico, including towers, rooftops and billboards that support wireless network connectivity.

The operator has expanded its footprint since its inception in 2014 and is well positioned to address the rising demand for 5G devices and services.

Additionally, Vertical Bridge is certified as carbon neutral and became the world’s first tower company to achieve net-zero emissions in 2020.

Richard Sem, partner at Pantheon Ventures said: “We are pleased to have made an investment in a sector that is experiencing such strong tailwinds, and alongside a sponsor in DigitalBridge with an excellent track record investing in this space."

“As the largest privately-owned operator of wireless communications towers in the US, and the world’s first tower company to become carbon neutral, Vertical Bridge is very well placed to capitalise on the growing demand for 5G-enabled services,” Sem added.

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