Aviva Investors, is investing a further £100 million in the provision of digital infrastructure by funding a broadband provider which serves the South West region of the UK.
The investment, intended to enable the continued roll-out of Bath-based Truespeed’s gigabit-capable fibre network across the region, is Aviva’s second tranche of funding for the company. In 2017 it invested £75 million in Truespeed.
Aviva said the latest investment will help Truespeed extend its full fibre network across underserved rural and suburban areas as well as small towns in South West England and is intended to significantly improve the digital capabilities of homes and businesses across the region “which currently struggle with substandard broadband,” Aviva 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,” said Aviva Investors’ senior director infrastructure Sean McLachlan. “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.”