In October 2021, PCP IV provided a six-year loan facility of EUR 85m to Eastern Light. The capital will be used to part-finance Eastern Light’s new, international, submarine fiber infrastructure around the Baltic Sea.
Eastern Light is a privately held Swedish company founded in 2012 by the successful fiber infrastructure pioneers Svante Jurnell and Fredrik Hane, who e.g. founded Utfors and IP-Only. Eastern Light’s focus is to build and operate its own new independent international fiber infrastructure between major data centers and communication hubs in Northern Europe. The individual fibers in the cables – both on land and at sea – are being leased out to operators, hyperscalers and other customers with special requirements for controlling their communication infrastructure.
We find Eastern Light to be well positioned to benefit from increasing demand for long-haul fiber infrastructure in Northern Europe where there has only been a minimal amount of new capacity built since the early 2000’s. Eastern Light also benefits from trends such as the emergence of Nordic data centre hubs and rising security considerations for data traffic. We are very much looking forward to working together with Eastern Light over the coming years.