Bristol-based lawyers at international legal practice Osborne Clarke have advised internet service provider Community Fibre on a £25 million new financing round led by the National Digital Infrastructure Fund (NDIF).
Partner Simon Jones and associate Katharine Ramsay, who are both based at Osborne Clarke’s offices at Temple Quay, advised on the deal, which will see ultra-fast full-fibre connectivity rolled out to around 100,000 homes across London by 2019.
A follow-on investment will be made by long-term institutional investor, RPMI Railpen. Partner Rob Wood, based in Osborne Clarke’s office in Reading, also advised on the deal.
Only 3% of UK homes are currently connected to full-fibre broadband, which has the capacity to provide gigabit-capable download speeds.
Community Fibre will use this new funding to further expand its coverage across the capital, continuing to target social housing estates as a priority.
The funding more than doubles the investment in Community Fibre to date and marks a significant milestone in the company’s target of connecting 500,000 homes in London with full fibre by 2022.
Osborne Clarke’s market leading venture capital team is considered a go-to practice for many fast-growing companies in the digital business sector.
The team combine extensive market knowledge and deep sector expertise to support companies throughout all stages of their development, from start-up to later stage and growth capital funding, strategic M&A and exits.