North American investment firm Novacap this week announced the final closing of Novacap Digital Infrastructure Fund I, the firm's first fund dedicated entirely to investing in digital infrastructure. The firm has also named its recently announced data center joint venture with H5, HyScale Data Centers.
The fund will focus on equity investments in North American lower mid-market companies providing “essential connectivity and data access services backed by robust, existing physical assets,” according to the company. The fund has already invested in four platform companies: INdigital, a provider of 911 services; All West Communications, a broadband network operator; Communications Tower Group, a developer and acquirer of wireless digital assets; and HyScale, a recently formed owner and operator of data center assets.
“I would like to thank our long-standing investors for their support and take this opportunity to welcome new investors to our new platform,” said Pascal Tremblay, president, CEO, and managing partner, Novacap. “A commitment of this size for a new platform is a testament to our experienced and dedicated team's track record of helping entrepreneurs build leading companies while delivering sustainable long-term value to all stakeholders.”
