Denver VC firm takes stake in Minneapolis FTTH expansion
Planned, facilities-based FTTH network will provide video, telephone and ultra high-speed Internet services to residential customers in Minnesota.
enVision Capital, a mid-stage venture capital firm and division of management consulting firm enVision Business Consulting (all of Denver, CO) has selected Minneapolis-based FTTH Communications, LLC as its latest investment. A planned facilities-based fiber-to the home (FTTH) network will provide video, telephone and ultra high-speed Internet services to residential customers in Rosemount and Albertville, Minnesota.
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According to enVision's principal officer Kurt Wolf, the firm was attracted to FTTH technology for several reasons. “Compared to DSL and cable, fiber-optic is a far superior technology, and FTTH is the only provider offering it in this growing market,” Wolf said. “This strategic advantage, combined with the turnaround in the local housing market in Rosemount and Albertville, make FTTH a very appealing investment.”
enVision is taking a minority stake in FTTH Communications as a company. The amount of the investment was not disclosed. FTTH Communications of Minneapolis plans to use the funding for network expansion and upgrades that will allow it to reach more homes. The company's CEO Jeffrey Feldman said the company expects to double its customer base within the next 12 to 18 months.
“We’re excited to have enVision Capital invest in FTTH,” Feldman added. “The firm is bringing more than money to the table – its strategic input and support will be leveraged as we move ahead together. enVision is putting its money where its mouth is, and we welcome the partnership.”
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Wolf said taking a stake in FTTH is in keeping with enVision’s business model of investing its profits in growing companies. “Our philosophy is very different than other management consultants who merely offer advice,” Wolf said. “With this investment we have aligned our financial goals and demonstrated our belief in FTTH and its management team.”
Founded in 2009, enVision’s staff now numbers more than 70. It also has regional offices in metropolitan New York and Milwaukee. This is enVision Capital’s second investment. Earlier this year, it took a stake in SpenDifference, a Denver restaurant purchasing and supply chain firm.
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