tel MAX, a Canadian company providing 100% fiber internet, TV, and phone services, has raised $215 million in growth funding to speed up the expansion of its fiber network throughout Ontario.
This funding includes a $105 million structured investment from funds managed by Hamilton Lane and a $110 million extension of tel MAX’s existing credit facility offered by Power Sustainable Infrastructure Credit, Palistar Capital, and Mid Star Capital.
The total amount gives tel MAX over $200 million in new growth capital and marks one of the largest financing deals made by an independent Canadian digital infrastructure provider, as stated by the company.
tel MAX aims to use these funds to fast-track the construction of its fiber-to-the-home network, grow its workforce, and expand services into more communities within the Greater Toronto Area.
Since its last financing round in 2025, tel MAX has extended its reach into Markham, Barrie, and Oakville while continuing infrastructure development in Brooklin, Stouffville, Newmarket, Aurora, and Richmond Hill.
The company plans to further expand into western GTA areas like Burlington, Brampton, and Mississauga. tel MAX noted that this buildout could connect hundreds of thousands of additional homes and businesses to its fiber network.
Hamilton Lane becomes a new institutional investor through the $105 million structured investment.
Power Sustainable is increasing its support for tel MAX after previously providing it with a senior secured credit facility in 2025. New partners Palistar Capital and Mid Star Capital are also joining this effort.
This financing indicates rising interest from institutions in digital infrastructure as both businesses and households demand higher bandwidths, lower latency rates, and more reliable connectivity options.
Unlike providers who depend heavily on outdated telecommunications systems, tel MAX creates designs for operating its own end-to-end fiber-to-the-home networks.
The company mentioned that this new funding will help enhance a network designed for increasingly data-intensive applications such as AI-related tasks along with other developing digital services.
tel MAX is based in the Greater Toronto Area where it provides internet access along with television and phone services for residential and business clients. Its current network covers areas including Barrie, Brooklin, Stouffville, Newmarket, Aurora, Markham, Oakville , and Richmond Hill.
Support: The firm was guided on this financing by Bank Street Group’s investment banking team. tel MAX said it aims for this extra capital to assist its long-term goal of becoming Canada’s leading independent fiber internet provider.
KEY QUOTES:
“tel MAX was built on a simple belief: communities should not have to settle for outdated legacy internet options. This investment gives us the capital needed to move even faster on the next stage of our growth plan which expands our delivery of the reliable high-performance fibre service that Canadians increasingly expect and deserve. We are excited to welcome Hamilton Lane as a new partner in the next chapter of the tel MAX story , and we are appreciative of Power Sustainable’s continued support as they double down on our vision.”
Michael Strople , CEO of tel MAX
“We believe tel MAX represents a compelling opportunity to invest in a business with in-place infrastructure , significant growth prospects , an experienced management team , and a path to create long-term value by connecting more communities to critical digital infrastructure.”
Taylor Mc Manus , Principal at Hamilton Lane
“Reliable digital connectivity is essential infrastructure for growing communities and businesses. tel MAX has demonstrated a differentiated approach to building and operating high-quality fibre infrastructure , combining disciplined execution with a clear focus on the communities and customers it serves.”
Ben Shenwick , Principal at Power Sustainable Infrastructure Credit
“tel MAX has built a distinguished fiber platform with attractive underlying markets and a clear opportunity to continue scaling its network. We are pleased to partner with Power Sustainable to provide additional capital for the company’s next phase of growth.”
<Carras Holmstead , Investment Partner at Palistar CapitalPlease visit Pulse 2.0. We work hard every day to bring leaders and decision-makers like you latest intelligence about business finance markets deal flow law tech AI. Click here subscribe Pulse 2.0 Newsletter.
Source link
Source link
