Aspire Broadband Holdings, operating as Aspire Fiber, announced that growth equity firm Arenova Capital has made a majority investment in the company to support the expansion of its 10 Gbps fiber-to-the-home internet network across California.
Dallas-based Arenova Capital has committed $50 million in equity capital to accelerate Aspire Fiber’s network buildout. Aspire Fiber CEO Stephen Weatherford and the existing management team will remain meaningful shareholders and continue to lead the business.
Aspire Fiber launched its first service market in Moorpark, California late last year and is currently expanding construction across the remainder of Moorpark and nearby Santa Clarita. With the new capital backing, the company is also evaluating additional expansion opportunities across California.
The company focuses on deploying next-generation 10 Gbps fiber-to-the-home infrastructure designed to deliver high-speed symmetrical internet access. Aspire builds its networks primarily underground to enhance reliability, resiliency, and long-term infrastructure durability.
Aspire Fiber’s strategy emphasizes working with municipalities and local stakeholders to expand broadband connectivity while supporting regional economic development. The company is focused on building scalable fiber infrastructure designed to serve communities across Ventura and Los Angeles counties and potentially broader regions in the future.
Arenova Capital, founded in 2022 and based in Dallas, invests in founder-led and founder-owned companies across technology-enabled, media, and communications sectors, with a focus on supporting long-term growth and building industry-leading platforms.
KEY QUOTES:
“This partnership with Arenova marks a significant milestone for our company. We share a long-term vision for building high-quality, community-focused fiber internet infrastructure across California. With Arenova’s strategic capital and deep domain expertise in fiber investing, we are well-positioned to accelerate our expansion while maintaining disciplined execution and operational excellence.”
Stephen Weatherford, Chief Executive Officer Of Aspire Fiber
“We are incredibly excited to partner with Stephen and the Aspire Fiber team at this important inflection point. Although Aspire is still early in its lifecycle, Stephen and his team are extremely experienced in the fiber sector and we are highly aligned with Aspire’s mission of bringing next-generation fiber service to Californian consumers who currently lack access to symmetrical fiber-to-the-home internet. We believe Southern California represents a highly compelling opportunity for long-term fiber investment, and we look forward to supporting the Company’s continued growth.”
David Li, Managing Partner Of Arenova Capital
