Race Communications, a fiber-to-the-home (FTTH) provider in California, secured more than $500 million in additional capital to accelerate the expansion of its fiber network across the state. This capital raise includes $375 million in equity from Oak Hill Capital, the existing majority investor, and its limited partners. The funding also features incremental debt financing from existing lender AB Private Credit Investors, which will also be participating in the equity round. This infusion of capital will support Race Communication’s plan to extend its FTTH network to as many as 1 million locations throughout California over the next several years._x000D_
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“California presents a tremendous opportunity for fiber deployment, and this new funding allows us to ramp up our construction efforts across the state,” Raul Alcaraz, CEO of Race Communications, said. “We are thrilled to have the continued support of Oak Hill Capital and to welcome our new partners as we work together to bring world-class internet service to an even larger number of residents and businesses throughout the state.”_x000D_
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“Race Communications has a strong track record of success in delivering high-quality fiber-optic services to communities across California,” Scott Baker, managing partner at Oak Hill Capital, said. “We are excited to deepen our commitment to Race to further enhance Race’s ability to meet the growing demand for high-speed internet in our home state of California.”
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