Surf Internet secures $175M in funding to accelerate FTTH build
Surf Internet recently celebrated its 25th anniversary, raised $175 million in new equity funding, and secured an upsized $300 million debt facility, enhancing its ability to bring fiber internet to more locations in the Great Lakes region.
Macquarie Capital led the equity investment, which was joined by existing investors Bain Capital and Post Road Group.
Led by DigitalBridge Credit, the new funding includes an upsized $300 million debt facility, a new commitment from the global investment group CDPQ, and participation from Boundary Street Capital and Liberty Mutual Investments.
This builds upon Surf’s existing $200 million debt facility, which includes prior lending commitments from the Canada Pension Plan Investment Board (CPP Investments).
With this new funding, Surf can fulfill its key mission: network expansion.
These investments provide Surf with the financial flexibility to expand its fiber network, enhance multigigabit capabilities, and reach 275,000 fiber passings in 2025.
The equity transaction closed on February 13, 2025, while the debt transaction closed on February 3, 2025.
For related articles, visit the Broadband Topic Center.
For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.
About the Author
Sean BuckleySean Buckley
Sean is the Editor-in-Chief of Lightwave. He establishes and executes Lightwave's editorial strategy across its website, email newsletters, events, and other information products. Before coming to Lightwave in July 2023, he served as editor of Broadband Communities. Earlier, he served as senior editor of FierceTelecom and the editor of the former Telecommunications Magazine. He got his start in the optical industry in 1998 when he became the editor of enterprise and optical networks at Information Gatekeepers. He has a BA in English from the University of Massachusetts, Boston, and lives in Dracut, Mass, with his wife, two sons, and his cat, Dove.
