FTTH gets investment support
enVision Capital, a mid-stage venture capital firm and division of management consulting firm, enVision Business Consulting, has selected rapidly growing FTTH Communications as its latest investment. FTTH is a facilities-based fiber optic network that provides video, telephone and ultra high-speed Internet services to residential customers in Rosemount and Albertville. FTTH is an acronym for fiber to the home.
According to enVision Principal Kurt Wolf, the firm was attracted to FTTH 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. The amount of the investment was not disclosed.
FTTH plans to use the funding for network expansion and upgrades that will allow it to reach more homes. FTTH 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 said. "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."