INPP vehicle invests in fibre-optic start-up – toob Limited (toob), the start-up fibre-optic company established by former directors at Vodafone, has announced it has secured investment from the National Digital Infrastructure Fund (NDIF). NDIF was established in 2017 as a co-investment vehicle partnership between HM Government and the infrastructure trust, International Public Partnerships (INPP), that was setup to investment in digital infrastructure projects.
The toob investment falls within the framework of INPP’s previously announced overall commitment of up to £45m to digital infrastructure via the NDIF, alongside HM Treasury, with the government committing up to £150m. To date, circa £15m of the £45m commitment has been called by NDIF, supporting NDIF’s investments.
INPP first announced a commitment to this area in 2017 (https://quoteddata.com/2017/07/inpp-makes-digital-infrastructure-commitment/) to make a joint investment with HM Government in digital infrastructure, and particularly fibre optic broadband connections. The toob investment is the fourth such investment by the co-investment fund. INPP saw long term parallels between the essential nature of broadband connectivity to the home and workplace, and the established businesses of gas and electricity distribution and transmission with which it is already experienced.
About INPP
INPP invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future. INPP is a responsible, long-term investor in 130 infrastructure projects and businesses, including utility and transport businesses, transmission projects, schools, courts and police headquarters in the UK, Europe, Australia and North America.
INPP: INPP vehicle invests in fibre-optic start-up