Bethesda, Md. -- Digital Access Inc. -- a
telecommunications start-up planning to offer cable, telephone and data services to
businesses and residences -- said last week that it raised $450 million in equity funding
to build digital networks in "several" U.S. markets.
A news release said investors include Bachow &
Associates, California State Teachers' Retirement System, Cornerstone Equity, First Union
Capital Partners, Fleet Equity Partners, Goldman, Sachs & Co. Asset Management, M/C
Venture Partners, Norwest Equity Partners L.P., Providence Equity and Spectrum Resources
Inc. Bachow's senior managing director founded Digital Access.
Bachow said in the release that the $450 million in equity,
plus debt, will fund the build-out and ramp-up phases of building the networks in several
Ultimately, the plan calls for passing 1.5 million
residential and commercial customers in target markets. A spokesman did not return a phone
call last week seeking more information.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.