LiveOak Fiber receives $150m boost for fibre network
Emerging broadband service provider LiveOak Fiber has received a US$150 million investment from Infrared Capital Partners to build a fibre network in Glynn Country, Georgia and Okaloosa Country, Florida.
The new network is set to bring fibre-based broadband to homes and businesses in the region, with the company insisting that it is an “affordable and reliable digital infrastructure to these traditionally underserved markets”.
The investment and partnership with LiveOak Fiber will aim to address the digital divide in Southeastern US.
The new network, when complete will offer internet service speeds of up to 10GBps and a suite of business communications.
“These initial deployments are in underserved areas that lack the critical connectivity needed to foster both a growing population and attract new businesses,” said Jody Craft, president of LiveOak Fiber.
“Constructing and providing fibre-based broadband to these counties in Georgia and Florida will enable a rich suite of modern communication services for the residents and businesses.”
InfraRed already manages US$12 billion+ of equity capital in several private and listed funds, primarily for institutional investors around the world.
LiveOak expects the initial rollout to begin construction in Q3 2022 while services are expected to be available from Q1 2023.