Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces it has provided up to an additional £100 million of funding to Truespeed, to extend the roll-out of the Bath-based provider’s ultrafast, gigabit-capable full fibre network across South West of the UK.
It is the second investment made by Aviva Investors managed funds in Truespeed, following an initial £75 million investment in 2017.
The new tranche of funding will help Truespeed extend the provision of its full fibre network across underserved rural and suburban areas as well as small towns in South West England. This new infrastructure will significantly improve the digital capabilities of homes and businesses across the region which currently struggle with substandard broadband. The firm has also committed to providing free broadband to local primary schools and community hubs passed by its network.
Sean McLachlan, Senior Director, Infrastructure, at Aviva Investors, said: “Since our initial investment in 2017, Truespeed has continued to successfully deliver essential gigabit-capable broadband infrastructure to under-served locations across the South West. This second tranche of funding reflects our belief that the company and its activities not only represent a sound investment, but also creates significant social and economic benefits for local communities. We look forward to continuing to support Truespeed and furthering the roll out its network build and award-winning service.”
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