Lightower Fiber Gets $380 Mln Loan from GE Capital

GE Capital’s TMT group has provided a $380 million credit facility to Lightower Fiber Netwrosk. Pamlico Capital, M/C Venture Partners and Ridgemont Equity Partners own Lightower. Boxborough, Mass.-based Lightower is a metro fiber network and bandwidth service company. PRESS RELEASE GE Capital’s Telecom, Media and Technology (TMT) financing business today announced it served as administrative […]

Scoop: M/C Ventures Will Seek New $500M+ Fund

Venture capital firm M/C Venture Partners, an early-stage investor in communications, IT, & media, will soon be courting LPs for its seventh fund, set to mirror recent prior vintages of about $550 million, according to a source. M/C Ventures has not hired a placement agent for any of its prior six funds, the source said, […]

PlumChoice Raises $25.6 Million

PlumChoice has raised $25.6 million in financing to meet the growing market demand and expansion requirements for its premium Technology Care services. PlumChoice is a Billerica, Mass.-based provider of remote technology support services to the home and small business markets. It plans to use proceeds to fund growth, expand sales and marketing, and enhance the breadth of its platform services. M/C Venture Partners, Gold Hill Capital and Eastward Capital participated in the financing.

M/C Venture Partners Promotes Lydia Jett to VP

M/C Venture Partners has promoted Lydia Jett to vice president. She joined in 2009 and was previously a senior associate at the firm. In her new role, Jett will focus on sourcing and managing investments in the media and communications industries. M/C Venture Partners has offices in Boston, San Francisco and London, and focuses on the communications, media, and information technology services sectors.

Lightower Inks Network Agreement with NSTAR Communications

Lightower Fiber Networks, a Boxborough, Mass.-based metro fiber network and bandwidth service company, has announced a long-term agreement to license the the remaining fiber optic network capacity of NSTAR Communications, the Boston-based energy company. Lightower is backed by M/C Venture Partners, Pamlico Capital, and Ridgemont Equity Partners. PRESS RELEASE: Lightower Fiber Networks, a leading metro fiber […]

PE-backed Lightower Fiber Networks Closes $230M Financing

Lightower Fiber Networks, the Boxborough, Mass.-based fiber network company backed by M/C Venture Partners, Pamlico Capital and Ridgemont Equity Partners, closed a $230 million senior secured credit facility with GE Capital Media. The facility, consisting of a $40 million revolver and a $190 million term loan, will go toward the company’s deal to buy Lexent Metro Connect. With PE backing, Lightower has made multiple acquisitions in recent years.

M/C Venture Partners Completes $460 Mln Sale of Cavalier

M/C Venture Partners said Tuesday that it has completed the sale of Cavalier Telephone to PAETEC for $460 million. Cavalier, of Richmond, Va., provides telecom services to residential and business customers. PAETEC is a telecom company based in Perinton, N.Y. M/C Ventures is a VC firm focused on communications, media, and information technology sectors.

M/C Venture Partners Scores Exit On Cavalier Telephone Corp.

PAETEC Holding Corp. said it has agreed to acquire Cavalier Telephone Corp. from M/C Venture Partners in an all-cash deal valued at $460 million. The transaction would give the provider of local communications services approximately 17,000 additional fiber-route miles. Together the combined company would have generated about $381 million in adjusted EBITDA on $1.95 billion in revenue for the 12 months ended June 30, including $30 million in expected future cost savings.

Savvis To Buy Fusepoint

M/C Venture Partners has agreed to sell Fusepoint Inc., a provider of managed IT and colocation services to enterprises in Canada, to Savvis Inc. (Nasdaq: SVVS). The deal was valued at $124.5 million in cash.

Motorola Buying Assets of SecureMedia

Motorola has agreed to acquire the assets of SecureMedia, a provider of software-based digital rights management (DRM) and security systems for IP video distribution and management. No financial terms were disclosed. SecureMedia had raised over $4 million in VC funding from M/C Venture Partners.

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