New capital enables expansion of GigaMonster’s Universal Access Network to additional customers in multifamily communities and commercial buildings
ATLANTA, Nov. 13, 2019 (GLOBE NEWSWIRE) -- GigaMonster, one of the nation’s leading fiber-based internet providers to the multifamily and commercial industries, today announced Barings Alternative Investments has completed a majority investment in GigaMonster Networks’ parent company, GigaSphere Holdings LLC.
GigaMonster will use the new capital provided by Barings to expand its Universal Access Network (UAN) offering in the buildings and smart districts owned and controlled by its strategic partners. As technologies like 5G, internet of things (IoT), small cell, CBRS and private LTE (Long Term Evolution) are increasingly adopted, Barings and GigaMonster see the need for wireless, carrier-neutral network solutions in buildings and on campuses.
“Through our Universal Access Network (UAN), we are addressing the challenges that multifamily residential communities face when it comes to their internet service,” said Bill Dodd, chairman and CEO of GigaMonster. “We are honored to have the opportunity to work closely with the Barings team and know their guidance and expertise in retail, office, industrial, multifamily and hotel properties will be instrumental in our continued success. Consumer needs are changing rapidly, and in today’s digital world, it’s imperative their devices stay connected over a consistently fast and reliable network like ours.”
Barings Alternative Investments is a 470-plus associate team located across 11 countries that manages over $50 billion in client capital. The company seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets, offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate.
GigaMonster sought out MVP Capital to assist in the fund raise with Barings. MVP Capital leveraged its expertise in the telecom infrastructure sector and long history of successfully raising capital for companies and entrepreneurs in this space.
Since its introduction as a fiber-based broadband company in 2015, GigaMonster has grown rapidly, now reaching over 45 markets nationwide and continuing to expand. For more information, please visit www.gigamonster.net.
About GigaMonster GigaMonster provides Scary Fast Internet™ to residents of multi dwelling communities and commercial buildings at symmetrical speeds of up to 1 Gbps with very low latency. As one of the nation’s fastest growing multifamily gigabit internet providers, GigaMonster’s goal is to not only offer the absolute best customer experience available, but to also add considerable value to its real estate partners by delivering higher occupancies, longer retention rates and increased property values. GigaMonster accomplishes this, in large part, through its unique network architecture that delivers an unmatched experience for video streamers and online gamers. To learn more, visit www.gigamonster.net.
About Barings Barings is a $335-plus billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,900 professionals and offices in 16 countries. Learn more at www.barings.com.