- Novacap launches $1B fund for digital infrastructure investments.
- Fund targets North American mid-market connectivity and data services.
What happened: Novacap raises $1 billion for digital infrastructure
Novacap, a North American private equity firm, announced the final closing of its first fund solely dedicated to digital infrastructure. The Novacap Digital Infrastructure Fund I exceeded its target, raising over US$1 billion from institutional investors, family offices, and high-net-worth individuals across North America, Europe, the Middle East, and Asia.
The fund focuses on equity investments in North American lower mid-market companies offering essential connectivity and data access services. With a strong team of industry veterans, the fund has already invested in four companies: INdigital, All West Communications, Communications Tower Group, and HyScale. These platforms span areas such as Next Generation 9-1-1 services, broadband networks, wireless digital assets, and data centres.
Pascal Tremblay, President and CEO of Novacap, highlighted that the fund reflects Novacap’s expertise in supporting entrepreneurs and creating sustainable value. Evercore Private Funds Group acted as the placement agent for the fundraising, while Davies Ward Phillips & Vineberg LLP served as fund counsel.
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Why it’s important
The launch of Novacap’s $1 billion digital infrastructure fund signals a strong commitment to developing connectivity and data access services. With increasing demand for reliable digital infrastructure, this fund will enable Novacap to capitalise on key market opportunities in North America’s lower mid-market.
The fund aligns with broader industry trends, such as rising data consumption, 5G deployment, and the expansion of digital ecosystems. By focusing on companies with robust physical assets, Novacap can deliver scalable solutions that address essential connectivity needs. Investments in platforms like INdigital and HyScale showcase the fund’s ability to support diverse sectors while fostering growth and innovation.
This milestone reflects Novacap’s reputation as a leader in sector-focused private equity. Its approach combines deep expertise, operational excellence, and strategic insights to drive value for stakeholders. As the digital economy grows, funds like this play a crucial role in bridging infrastructure gaps and advancing technology across industries.
