NOVA Infrastructure acquires New York City broadband provider Xchange Telecom

NOVA first invested in Xchange in September 2021.

  • Xchange was founded in 2002
  • NOVA closed its $565 million infrastructure Fund I in July 2022
  • NOVA Infrastructure targets investments in environmental services, transportation, energy/energy transition, and communication sectors

NOVA Infrastructure has acquired New York City-based Xchange Telecom, a provider of high-speed internet, voice, and unified communication services. No financial terms were disclosed.

NOVA first invested in Xchange in September 2021.

“We see tremendous potential in the high-speed broadband Xchange provides New Yorkers, especially those underserved businesses and residents in older buildings and harder to access areas,” commented Chris Beall, founder and managing partner of NOVA Infrastructure, in a statement. “The communications sector is one of NOVA’s investment targets and Xchange is a strong addition to our portfolio in this area. We look forward to working with the Xchange team to help the company grow and achieve new levels of success.”

Xchange was founded in 2002.

In July 2022, NOVA closed its $565 million infrastructure Fund I, which attracted commitments from investors that include public and private pension funds, insurance companies, family offices and asset managers.

Founded in 2017, NOVA Infrastructure targets investments in environmental services, transportation, energy/energy transition, and communication sectors.