Boston, Mass., June 25, 1999 - Horizon Telecom International (HTI) recently closed on a $15 million equity commitment from First Union Capital Partners. HTI is a Brazilian cable TV operator with concessions covering fifteen cities and approximately 850,000 homes. HTI's objective is to build-out its concessions and surrounding areas to cover approximately 1 million homes. The investment from First Union will be used to fund HTI's network build, pursue strategic acquisitions and fund future service offerings, including high-speed data and telephony service.
The addition of First Union as a second-round investor brings the total equity commitments to the company up to $65 million. Great Hill Partners is the Company's co-founder and lead equity investor with $50 million of capital committed to HTI through its managed funds.
About Great Hill Partners
Great Hill Equity Partners is a Boston-based investment firm that provides equity financing and strategic guidance to companies in the Media, Information, Telecom, and Business Service sectors. The firm has closed on, and has begun investing, Great Hill Equity Partners Limited Partnership, a $330 million private equity fund raised from institutional investors including leading commercial and investment banks, state and corporate pension funds, university endowments, and private trusts.