UK-based fibre optic infrastructure provider TrueSpeed Communications has received £75m ($96m) in funding from Aviva Investors, the asset management arm of insurance firm Aviva.
TrueSpeed is building an ultrafast broadband network that it expects will eventually cover rural areas across south west England, serving both residential and commercial clients.
The company’s offering is currently available to towns in the Chew Valley in the county of Somerset, and it is targeting a user base of more than 75,000. Aviva’s commitment is set to accelerate the rollout of the network.
Ian Berry, head of infrastructure equity at Aviva Investors, said: “I am delighted that Aviva Investors has helped bring this innovative partnership with TrueSpeed to fruition.
“This is another example of how we work to support the delivery of essential infrastructure in the UK, while also providing our institutional investor clients with access to long-dated income streams to help ensure the payment of pensions potentially decades into the future.”