Albion Capital invests £4.675m in G.Network
Cameron Barney advised G Networks on the transaction. Cameron Barney previously advised the company on a successful SEIS and EIS qualifying equity round.
G.Network, the next-generation communications service provider exclusively focused on Central London, has received investment totalling £4.675m from Albion Capital, the leading independent investment manager.
Based in Mayfair, London, G.Network provides affordable ultra-fast broadband connectivity to businesses across Central London, bridging the gap between constrained copper-based broadband and expensive leased lines which have long lead times.
A fast, reliable broadband connection is an increasingly critical requirement for Central London’s c. 100,000 SMEs, who are driving a rapidly rising demand for data, recorded at 30% growth annually. However, London’s broadband falls significantly behind equivalent cities, with average speeds ranked 26th out of 33 European capitals. G.Network offers businesses class-leading bandwidth without the lengthy installation times, high costs and extended, inflexible contracts normally associated with fibre-optic connections.
The investment from Albion Capital will be used to build out G.Network’s broadband infrastructure in Central London, prioritising streets with significant business density. G.Network recently completed an audit to identify 200 streets for the installations of its fibre, which connects every business on the street, and plans to use the new funds to connect 70 more streets to its fibre network by the end of 2017.