Vero Networks Secures $500M to Fuel Aggressive U.S. Fiber Expansion

BOULDER, CO – February 23, 2026 – VFN Holdings, Inc., operating as Vero Networks, today announced it has closed a monumental $500 million non-control growth equity investment, a move poised to dramatically accelerate the build-out of critical fiber optic infrastructure across the United States. The funding round was led by a powerful consortium of investment firms, including funds managed by Hamilton Lane, Braemont Capital, and existing backer Delta-v Capital.

This substantial capital infusion is earmarked for Vero's next major growth phase. The company plans to rapidly expand its fiber-to-the-premise (FTTP) networks, which bring high-speed internet directly to homes, while also scaling its wholesale fiber operations that serve other carriers and large enterprises. Furthermore, the investment provides a significant war chest for strategic mergers and acquisitions, signaling a period of potential consolidation in the competitive U.S. fiber market.

“We are thrilled to announce this financing, which will enable Vero to build new fiber infrastructure to data centers, homes, schools, cell towers and businesses,” said Matt Erickson, CEO of Vero Networks. “We are fortunate to have an amazing team here at Vero and to be supported by long-term strategic investors, welcoming Braemont and deepening our existing relationships with Hamilton Lane and Delta-v.”

A Deepening Bet on Digital Infrastructure

The investment is a strong vote of confidence not only in Vero Networks but in the enduring value of digital infrastructure as a whole. The investor group brings significant financial muscle and strategic expertise to the table. Hamilton Lane, a global private markets giant with approximately $1.0 trillion in assets under management and supervision, is making a significant commitment. In connection with the deal, Brent Burnett, Hamilton Lane's Head of Infrastructure and Real Assets, and Peter Udbye, a Principal on the same team, will join Vero’s Board of Directors.

“Vero has built a scaled, differentiated fiber platform, serving a wide range of customers across education, government, hyperscale and residential end markets,” stated Brent Burnett. “We believe in the long-term demand trends for fiber and are excited to partner with a management team that has an exceptional track record of execution in this space.”

Joining them is Braemont Capital, a relationship-driven firm that focuses on companies at key growth inflection points. The investment aligns perfectly with Braemont’s strategy of targeting digital infrastructure services. Wali Bacdayan, a Partner at Braemont, will also take a seat on the Vero board, underscoring the firm's intent to be a value-add partner.

“Over the past several years, Vero has consistently demonstrated disciplined capital deployment while delivering reliable, high-capacity broadband solutions to communities and institutions that have historically been underserved,” commented Wali Bacdayan. “Vero’s scalable, fiber-based network plays a critical role in supporting hyperscale and data center-driven connectivity.”

Rounding out the group is Delta-v Capital, an existing investor that is increasing its stake. Delta-v has a long history with Vero's leadership, a factor that provides deep institutional knowledge and trust. “We have worked with Vero’s leadership team for two decades. They are world class operators with a fantastic record of value creation in Fiber,” said Rand Lewis, Managing Partner at Delta-v Capital, who will continue to serve on the board.

Connecting the Underserved and Powering the AI Revolution

Since its founding in 2017, Vero Networks has pursued a dual mission: bridging the digital divide in underserved communities and building the high-capacity networks required for next-generation technologies. The company, started by industry veterans including co-founder of Zayo, Matt Erickson, initially focused on building private networks for schools in communities lacking adequate connectivity, often leveraging the federal E-Rate program.

Today, its operations span over 23 states and more than 250 markets, delivering services from residential broadband to complex dark fiber solutions for hyperscale data centers. This new funding will supercharge its efforts to bring fiber directly to homes, a critical need in an era of remote work and digital learning. The company has a proven track record of entering markets in states like Colorado, Texas, and Montana, often targeting towns and smaller cities that have been overlooked by larger providers.

Simultaneously, Vero is positioning itself at the forefront of the artificial intelligence boom. The company has been explicit about designing and building “AI-ready” fiber networks. In 2025 alone, Vero expanded its AI-ready infrastructure by 790 miles across five states. This high-count, resilient fiber is essential for connecting the massive data centers and cloud platforms that power AI and machine learning applications, making Vero an indispensable partner for the world’s largest technology companies.

A Catalyst for Market Consolidation

Beyond organic growth, the $500 million investment equips Vero Networks to become a major player in market consolidation. The press release explicitly notes that the funds will be used for “continuing strategic M&A across new and existing U.S. markets.” The American fiber landscape, while dominated by a few national giants, remains fragmented at the regional level with numerous smaller, independent operators.

With a substantial war chest and the backing of sophisticated private equity firms, Vero is well-positioned to acquire these smaller players, rapidly expanding its footprint and integrating new assets into its shared fiber backbone. This strategy allows the company to enter new territories more quickly than through new construction alone and to achieve greater economies of scale. This aggressive M&A posture is likely to intensify competition and accelerate the trend of consolidation within the industry.

As demand for bandwidth continues its exponential rise, driven by everything from 5G deployment to the Internet of Things and AI, the race to own the underlying fiber infrastructure has become a central theme for investors. With this latest funding round, Vero Networks is not just a participant in that race; it is now equipped to set a blistering pace for its competitors to follow.