Indian tower operator, Tower Vision has raised US$300 million from private investors to expand its tower portfolio. The funding came from a consortium of investors led by US based Quadrangle Capital Partners. The consortium included seven additional - unnamed - investors.
Tower Vision says that it is the second largest independent tower operator in India with 5,000 sites and operations across 14 of the country's 22 telecom circles.
Edward Sippel, a Managing Principal based in Quadrangle's Hong Kong office, said, "Quadrangle is very excited to be supporting the company and its outstanding management team to further accelerate the company's expansion and capitalise on the growth potential of India's telecommunications sector. This investment is a great opportunity to obtain exposure to one of the fastest growing wireless markets in the world, and we believe the Company is well positioned with its high quality and rapidly expanding tower portfolio."