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Topic 1 at Digital Infrastructure Investment 2021: Infrastructure Investment Funds

Topic 1 at DII2021 considers debt and equity financing for digital infrastructure investment.

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Panelists for Topic 1 at Digital Infrastructure Investment 2021

September 14, 2021 – In less than two weeks, Broadband Breakfast will kick off Digital Infrastructure Investment 2021 at the Broadband Communities Summit on Monday, September 27, 2021.

This pathbreaking event brings the broadband infrastructure and financial services communities together to focus on the digital infrastructure and investment asset profile, including fiber, small cells, towers and data center assets required to support a 21st Century information economy.

This kickoff session at Digital Infrastructure Investment 2021 – Topic 1 — concerns the all-important debt and equity financing for digital infrastructure investment. It will begin shortly after the conference kicks off at 1 p.m. ET / 12 Noon CT. Unlike other aspects of the Broadband Communities Summit, Digital Infrastructure Investment 2021 will be available both IN PERSON and LIVE ONLINE.

I will moderate this session, which we hope will set the stage for a broader discussion that includes investment fund manager, institutional investors, venture capitalists and senior broadband leaders speaking in Topics 2, 3 and 4 later in the day. Last-mile digital infrastructure, public-private partnerships, and the future of shared infrastructure will be considered in subsequent panels at the event.

Topic 1 includes, as panelists, Tom Coverick, Managing Director of Keybanc Capital Markets, James Wagar with Frontbridge Capital, Lindsay Miller with Ice Miller LLP and Ryan Carr of MC Partners.

Visit Digital Infrastructure Investment 2021 to register, and for the most up-to-date information about the mini-conference.

Panelists for Topic 1:

  • Ryan Carr, Partner, MC Partners
  • Tom Coverick, Managing Director, Keybanc Capital Markets
  • Lindsay Miller, Partner, Ice Miller LLP
  • James Wagar, Partner, Frontbridge Capital
  • Drew Clark (moderator), Editor and Publisher, Broadband Breakfast

James Wagar is a partner with Frontbridge Capital, in addition to serving as a Managing Director for Thomas Capital Group, and a Partner with Alpine Pacific Capital. He is a graduate of Pacific Lutheran University where he received his BBA in Finance. James has experience in myriad areas including venture capital, private real estate, buyouts, and growth equity.

Tom Coverick serves as the managing director for Keybanc Capital Markets, working with their public sector division. Tom has extensive experience in municipal broadband and public finance in the Midwest, Southwest, and Northeast. Tom has worked for broadband initiatives such as UTOPIA Fiber, the Utah Infrastructure Agency, and MINet.

Ryan Carr is a Partner at M/C Partners, where he leads origination, deal diligence and portfolio company support for investments for broadband infrastructure and technology services segments. He serves on the Board of BAI Connect, Everywhere Wireless and Denovo and previously was on the Board of Thrive Networks, as recapitalized by Court Square. Prior to joining M/C Partners, he worked at MVP Capital, a telecommunications, media and technology focused boutique investment bank, where he completed a number of financing and M&A transactions in wireless communications and infrastructure, fiber infrastructure and media sectors and previously worked as a certified public accountant in the energy and telecommunications sectors of KPMG.

Lindsay Miller is a partner at the law firm Ice Miller LLP and is a member of the Public Affairs and Government Law Groups. With nearly 15 years of experience in broadband and telecommunications initiatives, Lindsay is a strong advocate for building relationships with public and private sector stakeholders. She regularly advises municipalities on how to utilize Public-Private Partnerships for fiber and wireless expansion to build smarter cities and leverage the Internet of Things.

Drew Clark (moderator, not pictured), Editor and Publisher of Broadband Breakfast, also serves as Of Counsel to The CommLaw Group. He has helped fiber-based and fixed wireless providers negotiate telecom leases and fiber IRUs, litigate to operate in the public right of way, and argue regulatory classifications before federal and state authorities. He has also worked with cities on structuring Public-Private Partnerships for better broadband access for their communities. As a journalist, Drew brings experts and practitioners together to advance the benefits provided by broadband, and – building off his work with Broadband Census – was appointed Executive Director of the Partnership for a Connected Illinois under Gov. Pat Quinn. He is also the President of the Rural Telecommunications Congress.

Digital Infrastructure Investment 2021 will take place at the Broadband Communities Summit, and online, on Monday, September 27, 2021. 

Join the Broadband Breakfast Club and Register for the LIVE ONLINE version of Digital Infrastructure Investment 2021 for the Member’s Rate of $149. First month of Broadband Breakfast Club Membership included.

REGISTER NOW

The Broadband Communities Summit is ​the ​leading ​conference ​on ​broadband ​technologies ​for ​communities. It will take place in Houston, Texas, from September 27 – September 30, 2021.

The Summit ​attracts ​broadband ​system ​operators, ​network ​builders ​and ​deployers ​of ​all ​kinds. ​Many ​of ​the ​country’s ​major ​property ​owners ​and ​real ​estate ​developers ​attend ​the ​Summit ​each ​year, ​along ​with ​independent ​telcos ​and ​cable ​companies, ​municipal ​and ​state ​officials, ​community ​leaders ​and ​economic ​development ​professionals. ​

For more information on the Summit, visit Broadband Communities, as well as 2021 Travel & Hotel Information.

Broadband Breakfast Club Members receive discount pricing on both the Broadband Communities Summit and Digital Infrastructure Investment 2021.

Join the Broadband Breakfast Club and Register for BOTH the Broadband Communities Summit and the IN-PERSON Digital Infrastructure Investment 2021 for the  Member’s Rate of $349. First month of Broadband Breakfast Club Membership included.

REGISTER NOW

Digital Infrastructure Investment 2021 Sponsors:

Platinum Sponsor

Lit partners with municipal, county and other governmental entities, as well as a variety of private partners to deploy last-mile fiber optic network infrastructure. Residents and businesses connected to our networks will receive service from a local internet service provider that delivers a local brand and promise of great service and customer support.

Gold Sponsor

BroadbandNow is a data aggregation company helping millions of consumers find and compare local internet options. BroadbandNow’s database of providers, the largest in the U.S., delivers the highest-value guides consisting of comprehensive plans, prices and ratings for thousands of internet service providers.

Silver Sponsors

SiFi funds, builds and owns FiberCity™ networks for use by Internet Service Providers, 4G/5G carriers and other service providers wishing to deliver ubiquitous high-speed broadband services to business and residential properties as well as connectivity for city-wide Internet of Things applications.

Created by a group of Utah cities, the Utah Telecommunication Open Infrastructure Agency (UTOPIA) is a community-owned fiber optic network that uses the Open Access model to promote competition by giving customers the freedom to choose which telecommunication services they want.

To inquire about Digital Infrastructure Investment 2021, contact drew@breakfast.media.

Digital Infrastructure Investment 2020

See Broadband Breakfast’s Digital Infrastructure Investment Archives for a complete list of prior DII events, including DII 2020

Breakfast Media LLC CEO Drew Clark is a nationally respected U.S. telecommunications attorney. An early advocate of better broadband, better lives, he founded the Broadband Census crowdsourcing campaign for better broadband data in 2008. That effort became the Broadband Breakfast media community. As Editor and Publisher, Clark presides over news coverage focused on digital infrastructure investment, broadband’s impact, and Big Tech. Under the American Recovery and Reinvestment Act of 2009, Clark served as head of the Partnership for a Connected Illinois, a state broadband initiative. Now, in light of the 2021 Infrastructure Investment and Jobs Act, attorney Clark helps fiber-based and wireless clients secure funding, identify markets, broker infrastructure and operate in the public right of way. He also helps fixed wireless providers obtain spectrum licenses from the Federal Communications Commission. The articles and posts on Broadband Breakfast and affiliated social media, including the BroadbandCensus Twitter feed, are not legal advice or legal services, do not constitute the creation of an attorney-client privilege, and represent the views of their respective authors.

Satellite

LEO Technology Could Connect the Unconnected, Although Capacity Questions Remain

Unlike geostationary satellites, LEOs offer a connection that can support real-time communication.

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Screenshot of Internet Society Director of Online Content Dan York

WASHINGTON, December 2, 2022 — Low earth orbit satellites have the potential to provide life-changing connectivity for rural and underserved users if they can overcome issues of affordability and sustainability, according to Dan York, director of online content for the Internet Society.

Speaking at a Friday event hosted by the Gigabit Libraries Network, York explained that LEO technology can help to not only connect the two billion people worldwide who are unserved but also improve connectivity for the underserved.

Traditional geostationary satellites can provide some connectivity, but the high latency prevents uses like video calling or online gaming. LEOs offer a low-latency, high-speed connection that supports real-time communication.

In addition to being an interim solution while fiber buildout takes place, LEOs can provide redundancy during disasters and other outages, said Don Means, director of the Gigabit Libraries Network.

York agreed, noting that LEO satellites played an important role in providing connectivity during the aftermath of Hurricane Ian or during wildfires in California.

“Starlink makes it super easy because they can bring one of their trailers into a location, put up a Starlink antenna on the top, bring that connectivity down and then they can share it locally with Wi-Fi access points or cellular access points so people can be able to get that kind of connectivity — first responders, but also people in that local community.”

LEO satellites can provide connectivity even for certain locations that lack a ground station by using inter-satellite lasers, York added.

There are three primary LEO system components. Satellite constellations are made up of hundreds or thousands of satellites, launched into orbit and arranged into “shells” at various altitudes.

User terminals facilitate the transmission and receipt of data to and from the satellites. The antennas are “electronically steerable,” meaning that they can track multiple satellites without physically moving.

The final LEO system component is ground stations, also known as gateways, which are the large antennas and facilities that connect the satellites to the internet.

Advances in rocket technology are driving an increase in LEO satellites, York said. For example, SpaceX is reusing rockets, making launches less expensive. The relatively smaller size of LEO satellites means that they can be mass produced using assembly lines.

However, affordability is still a barrier to widespread adoption, York said. Another challenge is competition with mobile telecom companies for spectrum allocation. ISOC recently released a study discussing these issues and making recommendations for their resolution.

There is also still some uncertainty about the capacity of these connections, York said, pointing to anecdotal reports as well as an Ookla study showing that Starlink’s capacity had decreased in certain areas.

“How much of that is growing pains while Starlink continues to build out the rest of its constellation, versus how much of it might be inherent limitations within the systems?” he asked. “We don’t know. I think we probably won’t know until more of these systems get up and are launched.”

Despite these questions, York was optimistic about the promise of LEO technology: “I think there’s great potential that these systems, as they come online, can truly offer us ways to connect the unconnected.”

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Broadband Mapping & Data

Jeff Miller: Tools to Manage the Next-Generation Network Buildouts

Service providers that use GIS applications are able to reduce design time by 80 percent.

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The author of this expert opinion is Jeff Miller, Synchronoss Technologies CEO.

Today’s digital world is driving the insatiable need for fiber networks and connectivity, thus the thrust for widespread broadband buildouts and deployments worldwide. Broadband connectivity is the heartbeat for mobility, cloud applications, voice, video, and social media, not to mention home automation, IoT, and smart cities. As a result, service providers and operators are investing heavily in infrastructure, claiming their 5G networks are the largest or fastest or most reliable.

Initiatives like the Rural Digital Opportunity Fund are aimed at bridging the digital divide and fast-tracking investment to deploy high speed fixed broadband service to rural areas and small businesses that lack it. The Federal Communications Commission’s $20.4 billion program requires that networks stand the test of time by prioritizing higher network speeds and lower latency.

A key element in the implementation of RDOF-backed projects is broadband mapping. The Federal Communications Commission is in the process of updating its current broadband maps with more detailed and precise information on the availability of fixed and mobile broadband services. The Broadband Deployment Accuracy and Technological Availability Act, signed into law in March 2020, requires the FCC to change the way broadband data is collected, verified, and reported

As carriers build, expand, and upgrade their fiber network infrastructure, a great deal of planning is required, along with documenting the intricacies of design and engineering processes.

Streamlining and automating network planning and design processes through software can deliver accurate and timely network info for service providers, increase efficiency, and create opportunities for reducing costs.

GIS based systems are replacing volumes of paper, and outdated static CAD, Excel and Vizio files. They offer sophisticated tools to manage all aspects of network design and infrastructure management. Working with many service providers that use GIS applications, they are able to reduce design time by 80 percent and drastically cut other capital expenditures.

Automation is key

Having to rely on a system of manual processes to manage the fiber network makes it increasingly difficult to scale. Fortunately, with the introduction of automation into the network management process by utilizing an accurate physical network inventory in addition to geographic information system mapping, scalability becomes a much easier task.

Continuous planning and engineering tasks can ultimately become automated through software implementation. Automating network fiber management creates significant business value by shifting a service provider’s approach from reactive to proactive. A comprehensive and updated database for network architecture quickly allows for scenario analysis and capacity planning. Sharing automated processes across different organizations becomes much simpler and improves collaboration while reducing errors. This can allow staff to shift their focus to more pressing operational activities thus making the network more reliable.

Integration between different systems

Whether it is your enterprise GIS or outage monitoring system, it should be easy to interact with third-party systems to get the most out of the network data. Ideally, you should be able to receive an outage notification and use that location to track down the network and pinpoint the root cause to act and quickly resolve the situation before customers notice. This can help save time, money, and guarantee customer satisfaction.

Mobilize network data and increase field worker productivity

Utilizing a fiber networking and planning solution enables network information to be shared easily and quickly between the field and office to provide access to the information they need when they need it at any given time. Enterprise-wide access can provide timely and accurate network information for a wide range of communications service providers.

When it comes to service providers, expanded visibility into a network yields a greater overall awareness of the network. Automating third-party data exchange processes with accurate and up-to date inventory can optimize performance for field workers and guarantee customer satisfaction. Improved access to data can increase ROI by allowing cable locators and field techs to receive accurate confirmation before they arrive at a job. In the end, there will be fewer mistakes which ensures happier customers.

The right tools can result in improved scalability, reduced time to revenue, lower operational costs, and actionable insights that can be gleaned from network data.

Jeff Miller serves as President and CEO of Synchronoss Technologies. He previously served as President for IDEAL Industries Technology Group, following a 16-year experience with Motorola Mobility where he was Corporate Vice President of North America. Miller also serves on the Board of 1871, Chicago’s largest start-up incubator, and on the non-profit Boards of Aspire Chicago and Junior Achievement. This article is exclusive to Broadband Breakfast.

Broadband Breakfast accepts commentary from informed observers of the broadband scene. Please send pieces to commentary@breakfast.media. The views reflected in Expert Opinion pieces do not necessarily reflect the views of Broadband Breakfast and Breakfast Media LLC.

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Funding

Florida, Georgia, Iowa, Minnesota, Missouri and Utah to Receive Nearly $1 Billion in American Rescue Plan Funds

The states will use their funding through the Capital Projects Fund to connect more than 180,000 homes and businesses.

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WASHINGTON, December 1, 2022 – The U.S. Treasury Department on Thursday announced the approval of broadband projects in an additional six states under the American Rescue Plan’s Capital Projects Fund Florida, Georgia, Iowa, Minnesota, Missouri and Utah.

Together, these states will use their funding to connect more than 180,000 homes and businesses to affordable, high-speed internet.

The Capital Projects Fund provides $10 billion to states, territories, freely associated states, and Tribal governments to fund critical capital projects that enable work, education, and health monitoring in response to the public health emergency. In addition to the $10 billion provided by the CPF, many governments are using a portion of their State and Local Fiscal Recovery Funds toward connecting to affordable, reliable high-speed internet.

“The pandemic upended life as we knew it—from work to school to connecting with friends and family—and exposed the stark inequity in access to affordable and reliable high-speed internet in communities across the country in rural, Tribal, and other underrepresented communities,” said Deputy Secretary Wally Adeyemo. “This funding will lay the foundation for the Biden-Harris Administration’s historic investments to increase access to high-speed internet and reduce internet bills for American households and businesses.”

In accordance with Treasury’s guidance, each state’s plan requires service providers to participate in the Federal Communications Commission’s new Affordable Connectivity Program.

The Affordable Connectivity Program helps ensure that households can afford the high-speed internet they need for work, school, healthcare, and more by providing a discount of up to $30 per month (or up to $75 per eligible household on Tribal lands). Experts estimate that nearly 40% of U.S. households are eligible for the program.

The Administration also commitments from 20 leading internet service providers to offer all ACP-eligible households high-speed, high-quality internet plans for no more than $30 per month. As a result, ACP-eligible households can receive internet access at no cost and can check their eligibility for free internet and sign up at GetInternet.gov.

In addition to requiring funding recipients to participate in the Affordable Connectivity Program, Treasury’s guidance requires recipients to consider whether the federally funded networks will be affordable to the target markets in their service areas and encourages recipients to require that a federally funded project offer at least one low-cost option at speeds that are sufficient for a household with multiple users.

The following descriptions summarize the six state plans that Treasury approved today:

  • Florida is approved for $248 million for broadband infrastructure, which the state estimates will connect 48,400 households and businesses – representing approximately 10% of locations still lacking high-speed internet access. Florida’s award will fund Florida’s Broadband Infrastructure Program (BIP), a competitive grant program designed to expand last mile broadband access to homes and businesses in rural areas of the state. Funding from CPF will help Florida continue to prioritize fiber-optic networks and projects proposing affordable service. The BIP is designed to provide internet service with speeds of 100 * 100 Mbps symmetrical to households and businesses upon project completion. Florida submitted plans for the remainder of their CPF funds and these applications are currently under review by Treasury.
  • Georgia is approved to receive $250 million for broadband infrastructure, which the state estimates will connect 70,000 households and businesses – representing 15% of locations still lacking high-speed internet access. Georgia’s award will fund the Georgia Capital Projects Fund grant program, a competitive grant program that is designed to fund broadband infrastructure projects that provide service to areas identified by the state to currently lack access to reliable broadband that can meet or exceed 25 * 3 Mbps, and that adopt practices that support both efficient broadband expansion and community engagement. The Georgia Capital Projects Fund is designed to provide internet service with speeds of 100* 100 Mbps symmetrical to households and businesses upon project completion. Georgia submitted plans for the remainder of their CPF funds and these applications are currently under review by Treasury.
  • Iowa is approved for $152.2 million for broadband infrastructure, which the state estimates will connect 18,972 households and businesses – representing approximately 16% of locations still lacking high-speed internet access. Iowa’s award will fund the Empower Rural Iowa Broadband Program, a competitive grant program designed to address inequities in access to broadband throughout the state of Iowa. Using a three-step process, the program combines mapping data, input from communities, and applications from service providers. Funding from CPF will help Iowa bring broadband service to areas identified having a critical need for broadband. Empower Rural Iowa Broadband Program is designed to provide internet service with speeds of 100 * 100 Mbps symmetrical to households and businesses upon project completion. The plan submitted to Treasury and being approved today represents 100% of the state’s total allocation under the CPF program.
  • Minnesota is approved for $44 million for broadband infrastructure. Minnesota’s award will fund two additional broadband infrastructure programs: Minnesota’s Line Extension Program, a competitive grant program designed to address the needs of individuals who are located near infrastructure for high-quality broadband service but where the cost of the last mile connection is a barrier; and the Low-Density Pilot Program, a competitive grant program that provides financial resources for new and existing providers to invest in building broadband infrastructure in low-density areas of the state that currently lack high-speed internet. Funding from CPF will help Minnesota continue its efforts to provide reliable internet access to predominately rural locations previously facing cost barriers. Both programs are designed to provide internet service with speeds of 100 * 100 Mbps symmetrical to households and businesses upon project completion. Minnesota submitted plans for the remainder of their CPF funds and these applications are currently under review by Treasury.
  • Missouri is approved for $196.7 million for broadband infrastructure, which the state estimates will connect 37,979 households and businesses – representing approximately 8% of locations still lacking high-speed internet access. Missouri’s award will fund the Missouri Broadband Infrastructure Grant Program, a competitive grant program designed to fund broadband infrastructure projects in areas that currently lack access to high-speed, reliable broadband. Funding from CPF will help Missouri bring service to areas where broadband infrastructure projects would not be feasible without assistance. The Missouri Broadband Infrastructure Grant Program is designed to provide internet service with speeds of 100 * 100 Mbps symmetrical to households and businesses upon project completion. The plan submitted to Treasury and being approved today represents 100% of the state’s total allocation under the CPF program.
  • Utah is approved for $10 million for broadband infrastructure, which the state estimates will connect 3,080 households and businesses – representing approximately 5% of locations still lacking high-speed internet access. Utah’s award will fund the Broadband Infrastructure Gap Networks Grant Program (Gap Networks Grant Program), a competitive grant program designed to address gaps in broadband infrastructure where reliable broadband service is currently unavailable. Funding from CPF will help Utah continue its efforts to bridge the state’s remaining digital divide. The Gap Networks Grant Program is designed to provide internet service with speeds of 100 * 100 Mbps symmetrical to households and businesses upon project completion. Utah submitted plans for the remainder of their CPF funds and these plans are currently under review by Treasury.
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