- I Squared Capital plans to acquire optical fibre networks to set up a carrier-neutral telecom infrastructure platform
- In India, I Squared Capital has so far set up two platforms—Cube Highways, a roads and highways platform and the recently-divested Amplus Energy Solutions
New York-based I Squared Capital plans to invest around $300 million in Lightstorm Telecom Ventures, its telecom infrastructure platform in India.
The investment by I Squared Capital comes in the backdrop of its sale of Amplus Energy Solutions Pvt. Ltd, one of India’s largest rooftop solar power producers, to Malaysia’s state-run oil and gas company, Petroliam Nasional Bhd or Petronas, for₹2,700 crore.
I Squared Capital plans to acquire optical fibre networks to set up a carrier-neutral telecom infrastructure platform.
The infrastructure-focused private equity firm has over $13 billion of assets under management. It focuses on energy, utilities and transport in North America, Europe and high-growth economies.
In India, I Squared Capital has so far set up two platforms—Cube Highways, a roads and highways platform and the recently-divested Amplus Energy Solutions. Cube Highways was set up along with International Finance Corp. (IFC).
What’s on the agenda?
I Squared Capital’s focus on setting up a carrier-neutral telecom infrastructure platform comes against the backdrop of the National Democratic Alliance government’s focus on fibre network in its National Digital Communications Policy-2018, which aims to attract $100 billion in investments in digital communications.
I Squared Capital invested $150 million in Amplus in April 2015 and helped it to grow to become India’s largest rooftop solar power producer by over 400 per cent annually before selling its stake. The firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.
(News courtesy: The Mint)
