A cell tower company headquartered in Singapore has secured financing from a communications infrastructure fund to pursue its expansion in the Philippines.
iSON Tower Ltd. Inc. said the investment made by Peppertree Capital Management Inc. would “advance the company’s mission of providing critical digital infrastructure in the Philippines.”
The amount of the investment was not disclosed by the company.
iSON Tower said the transaction comes at a time when there is a strong demand for connectivity in the ASEAN region, and with operators looking to ramp up 5G rollouts across the Philippines.
Peppertree is a private equity firm focused on making investments in growing communication infrastructure companies.
iSON Tower plans to expand next-generation connectivity solutions and bridge the digital divide in the country.
The company builds and operates digital infrastructure with a comprehensive portfolio of built-to-suit solutions, tower colocations, in-building solutions, and small cells, among others.
It is part of ICT and emerging market specialist iSON Group, which has a presence in over 35 countries across Africa, Middle East and Southeast Asia.
“With a market potential of 50,000 tower assets in the coming years, Philippines’ telecom sector has a promising future and is currently a focal point for us,” iSON Tower founder and chairman Vivek Gupta said.