Brightspeed gets $500 Million investment from Abu Dhabi firm Mubadala

North Carolina-based broadband provider Brightspeed has caught the eye of Abu Dhabi sovereign investor Mubadala, which will invest $500 million into the operator. The investment, subject to regulatory approvals and conditions, would make Mubadala a minority shareholder alongside Apollo Global Management, Brightspeed’s parent company. Apollo, in October 2022, closed a $7.5 billion deal to acquire Lumen’s assets in 20 states. Mubadala boasts a global portfolio of $284 billion, spanning six continents across sectors such as digital infrastructure, real estate, and credit investments. Khaled Abdulla Al Qubaisi, CEO of Real Estate and Infrastructure Investments at Mubadala, said the firm “sees [a] huge opportunity in supporting Brightspeed's growth strategy in transitioning large swathes of the US to fiber connectivity and promoting digital equity and inclusion.”