Enterprise Ventures swims out of H2O

Exit

The UK venture capital fund management firm Enterprise Ventures has made a successful exit from H₂O Networks Limited, receiving 3.6 times its original investment.

Enterprise Ventures first invested in September 2006, via the Coalfields Enterprise Fund, following on in mid-2007.

H₂O Networks, based in north-west England, provides super-fast broadband to homes and businesses over fibre optic cable installed in the UK’s waste water infrastructure. The company can deliver fibre optic services ranging from point-to-point networks to city wide infrastructures.

H₂O’s system means cables can be laid 80 percent faster than the traditional method of digging up roads.

Richard Bamford, Enterprise Ventures Executive Chairman, said, “On behalf of our client, we are extremely pleased to have achieved such an excellent outcome, which demonstrates that even during these very difficult recessionary times, there are high growth investment opportunities in the English regions”.

Wayne Thomas, Investment Director for the deal, said, “Since [we] initially invested in H₂0 Networks, the business has grown significantly […..]. Successful investments often depend on backing the right team with the right idea.”

Elfed Thomas, CEO of H₂O Networks, said “Over the last two years, H₂O Networks has experienced exponential growth. Our tried and tested proposition has grown from a point-to-point fibre optic solution for businesses, to building town and city-wide networks as seen in Dundee and Bournemouth.”