Press Release
The investment reinforces Kinetic’s commitment to bridging the digital divide and expanding essential internet infrastructure in rural America.
News submitted by: Kinetic Ventures LLC
Kinetic Ventures LLC, a premier growth capital provider to rural broadband companies, has announced a minority investment in RiverStreet Management Services, LLC, a subsidiary of Wilkes Telephone Membership Corporation, a leading fiber builder dedicated to delivering high-speed internet to underserved and unserved communities in North Carolina and Virginia. With this investment, Kinetic Ventures reinforces its commitment to bridging the digital divide and expanding essential internet infrastructure in rural America. This partnership includes an opportunity for Kinetic Ventures to increase its investment as RiverStreet continues its mission to bring connectivity to those who need it most.
To support RiverStreet’s rapid growth, Kinetic Ventures has appointed Deb Rand to join the RiverStreet Management Services’ Board of Directors. Rand brings extensive operational experience and a deep understanding of broadband infrastructure development.
“I am thrilled to join RiverStreet’s board and support its impactful work in building a digital future for rural communities,” said Deb Rand, Managing Director at Kinetic Ventures. “RiverStreet’s commitment to expanding fiber networks aligns perfectly with Kinetic’s vision of empowering broadband providers that make a real difference in their communities.”
RiverStreet has also been awarded an impressive $260 million in federal and state grants to expand fiber networks, positioning the company to address critical connectivity needs across a wide geographic area. These funds will aid in the deployment of fiber infrastructure to underserved regions, bringing reliable, high-speed internet access to thousands of households and businesses.
“We are excited to partner with Kinetic Ventures to further our goal of bridging the digital divide,” said Eric Cramer, President & CEO of RiverStreet. “With Kinetic’s investment and the support of federal and state grants, we are well-equipped to expand our network, reaching more rural communities with high-quality broadband.”
Kinetic Ventures’ partnership with RiverStreet represents a shared vision to connect more Americans to reliable internet, ensuring they have the same opportunities for education, employment, and healthcare access as those in urban areas.
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