UK digital fund takes developer stake

The UK’s National Digital Infrastructure Fund (NDIF) has acquired a substantial minority shareholding in a developer of ultrafast wholesale and custom fibre broadband infrastructure.

The fund, which is the commercial entity established through investments from the UK’s Digital Infrastructure Investment Fund and International Public Partnerships (INPP), is investing £22m into Nextgenaccess (NGA)

NGA has successfully built an independent network across the UK with over 100 Points of Presence. Through the new investment, it will be able to build a new 80km high capacity fibre route connecting the City of Bristol directly to Europe’s largest data centre located in Newport with a 4km connection across the Severn Bridge.

“NDIF’s investment will allow us to accelerate scale deployment of our independent ultrafast network across the UK, particularly to underserved areas,” said NGA managing director, Mark Weller.

“Today's announcement is a great example of government and industry partnership in action,” added Matthew Vickerstaff, deputy chief executive at the Infrastructure and Projects Authority.

“Our cornerstone investment alongside Amber Infrastructure Group, through the Digital Infrastructure Investment Fund, is helping to catalyse the roll out of full-fibre networks for people and businesses in Wales and South West England.”