Investments
Cameron Barney advises toob on £75m funding from Amber Infrastructure Group
Cameron Barney acted as financial adviser to toob.
March 2019
Cameron Barney LLP is pleased to announce that it acted as financial adviser to toob Limited (“toob”) in obtaining an initial GBP75 million of funding from the National Digital Infrastructure Fund (“NDIF”) Limited – a fund managed by Amber Infrastructure Group.
toob is building and operating a new Fibre to the Premises (FTTP) broadband network across several of the UK’s southern counties to provide affordable gigabit connectivity to businesses and residents who are chronically under-served by the existing infrastructure.
“We are pleased to have secured the investment from NDIF. This secures the funding required to complete our network deployment to the first 100,000 homes. Cameron Barney’s expertise proved invaluable in our process and Mike (toob’s co-founder) and I very much enjoyed working with them.”
The UK needs substantially more fibre infrastructure to support the increasing volumes of data and content that is transmitted and consumed over the internet as well as to meet the UK government target of 50% of all commercial and residential premises having access to full-fibre services by 2025. A substantial investment has been allocated to this strategy by both the UK Government and individual funds such as the NDIF.
“We are very pleased to have advised toob on this transaction. The toob leadership team has exceptionally strong operational credentials and this enabled them to secure substantial funding from a start-up position.”
