£50m National Wealth Fund Investment Secured

Wessex Internet, an independent broadband provider specialising in rural connectivity, has secured a £50 million investment from the National Wealth Fund (NWF) to expand coverage to 140,000 hard-to-reach homes and businesses.

The NWF funding is one of the most significant commitments to rural broadband infrastructure announced this year, supporting Wessex Internet’s vision to serve hard-to-reach communities in the South West, bridging the digital divide.

Wessex Internet was originally founded in 2010 to bring connectivity to the founder’s local village and has since grown into a thriving enterprise covering Dorset, Somerset, Wiltshire, and Hampshire. Known for its community focused and innovative approach, the company has deep expertise in rural delivery, enabling it to connect homes and businesses often neglected by larger legacy providers. It prioritises a sustainable approach, deploying specialised rural build techniques, and working closely with farmers and landowners to lay cables under fields — reducing the need for roadworks and minimising disruption.

In 2022, Wessex Internet became the first provider to win a Project Gigabit contract, a Building Digital UK (BDUK) led government programme enabling hard-to-reach communities to access fast, reliable gigabit-capable broadband. The capital raised from NWF combined with £72 million awarded from BDUK will allow the business to expand its existing network of 40,000 to approximately 137,000 rural premises. The NWF’s funding reflects growing recognition that whilst there are known difficulties in the sector, Wessex Internet, has a clear strategy and is achieving strong commercial results.

The NWF was established to channel investment into sectors aligned with the UK’s industrial strategy and long-term growth priorities, generating a return for the taxpayer and attracting private capital. For rural communities in target areas, the expansion will address longstanding connectivity challenges that have affected everything from remote working capabilities to access to digital services. Currently, 85% of all UK premises have gigabit-broadband and the government’s target is to reach 99% coverage nationwide by 2030.

Voiceover artist Natalie Cooper moved to her dream home near Shaftesbury in Dorset, with her own studio, but with barely any mobile signal and broadband under 1Mb, running her business felt impossible as the connection was too slow.

She said: “I was relieved when Wessex Internet provided a line-of-sight service around six months after we moved in. I knew I’d need more to keep pace with evolving technology. Now that we have full fibre direct to the property, I can confidently deliver a consistent, high-quality service to my voiceover clients around the world”.

The Big Yellow Bus Garden Project, a volunteer-run community garden in Shillingstone, Dorset, could not afford broadband access until Wessex Internet stepped in to sponsor the project.

A spokesperson said: “We can enable school children who visit the site to instantly research topics that spring up during their visits. It has also allowed us to develop our social media with informative videos and posts, keeping everyone in the community informed”.

Hector Gibson Fleming, CEO of Wessex Internet, said:

“We are delighted with the National Wealth Fund’s decision to support our ongoing growth story. This investment will support the scale and pace of Wessex Internet’s rural network build and enables us to continue delivering high-quality digital infrastructure in areas that have historically faced limited connectivity. As many broadband providers scale back, we have continued to grow by focusing on rural, hard-to-reach areas that others overlook. As a family-owned business, our focus has always been on ensuring that these regions can access reliable full fibre broadband, which supports local economic development and long-term community needs. Our success is rooted in that purpose.

Everyone in the business is proud of the huge impact that Wessex Internet has had on the communities we serve - connecting families, strengthening businesses and empowering local organisations.”

Ian Brown, Head of Banking & Investments at the National Wealth Fund, said:

“Every home and business in the UK deserves access to fast, affordable and reliable broadband. Our financing for Wessex Internet will ensure that under-served rural communities will benefit from the continued full-fibre rollout. These are areas where connecting homes and businesses to fast fibre will make the greatest difference, helping to improve connectivity and support local economies.”

Wessex Internet has won continued backing from its major investors including Aberdeen, the global investment company, which is a major equity investor in Wessex Internet through its Economic Infrastructure team. Their original investment highlights the growing role of independent providers in delivering rural broadband infrastructure, as specialists such as Wessex Internet are demonstrating that rural deployment can be both technically feasible and commercially attractive.

Alex Anderson, Investment Director, Aberdeen Investments’ Economic Infrastructure team, said:

“We're delighted to see Wessex Internet secure this £50 million from the National Wealth Fund investment, which validates the strength of their approach to rural connectivity. As an existing investor committed to delivering reliable infrastructure to local communities, this funding represents a significant boost for our shared mission. We look forward to continuing our work alongside Wessex Internet's management team, leveraging our experience in the infrastructure sector to deliver this next phase of growth to historically under-served rural areas.”

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For more information on the NWF, please contact press@nationalwealthfund.org.uk