PTI secures funding from new investors, plans further expansion

PTI secures funding from new investors, plans further expansion

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Phoenix Tower international has announced new investment from Blackrock and Grain Management (Grain) that will support its growth by providing critical tower infrastructure to new and existing markets around the world.

According to data from Capacity’s sister brand TowerXchange, the towerco owns towers in 23 markets, and three continents, making it one of the most spread out towercos in the world.

Grain and BlackRock are joining Blackstone as investors in the business, which has been building and leasing towers since 2013.

"We welcome Grain Management and BlackRock as investors in Phoenix Tower International and look forward to leveraging their strong track records in digital infrastructure investing to support our continued expansion," said Dagan Kasavana, founder and CEO, Phoenix Tower International.

"Over the last decade, we've grown exponentially to provide wireless tower infrastructure to communities and countries in need of greater connectivity and we look forward to growing our impact with the support of our new and existing partners," he added.

Ted Manvitz, managing director at Grain said the firm was excited to partner with PTI and “bring our capital and sector expertise to bear in helping drive the company's continued growth as a leading provider of global wireless infrastructure”.

“Our partnership with PTI naturally aligns with our investment strategy and belief in the power of broadband communications to fuel digital transformation and economic growth, and to unlock human potential” added David Grain, founder and CEO of (you guessed it) Grain.

"Phoenix Tower International owns and operates critical infrastructure that supports a growing network of mobile network operators globally, helping deliver wireless connectivity to customers around the world," said Mark Florian, global head of diversified infrastructure at the worlds largest asset manager, Blackrock.

"We are excited to invest on behalf of our clients in this leading platform and to partner with Dagan and PTI's highly experienced management team to support the company's ongoing growth,” Florian said.

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