Archtop Fiber Secures Nearly $200 Million in New Capital to Accelerate Market Expansion in the Northeast

KINGSTON, N.Y., April 15, 2025 /PRNewswire/ -- Archtop Fiber ("Archtop" or "the Company"), a provider of multi-gig, 100%-fiber Internet and phone service to residential and business customers across the Northeast, has successfully closed on a new credit facility agented and led by Chicago-based, Monroe Capital ("Monroe"). This credit facility provides the Company with nearly $200 million in additional capital to execute its aggressive market expansion plans in the Northeast. Archtop is a portfolio company of Post Road Group, an alternative asset manager with an investment strategy focused on providing growth capital to digital infrastructure businesses.

Vote of Confidence
This new financial partnership with Monroe and co-investors marks a significant milestone for Archtop Fiber. The transaction reflects continued support from Post Road Group and the Company's existing investor base, who remain committed to scaling the platform. The investment supports immediate expansion initiatives and lays the foundation for further capital funding opportunities as the company's all-fiber network expansion and company profile continue to grow in the region and industry.

"We are thrilled to secure this substantial source of funding, which will accelerate our ability to scale and reach new markets," said Jeff DeMond, Chairman and CEO of Archtop Fiber. "This partnership with Monroe represents a strong vote of confidence in our business strategy and growth potential."

"We believe Archtop Fiber is building a generational platform in fiber broadband by combining a world-class leadership team with a compelling strategy to serve overlooked communities," said Andrew Runk, Managing Director at Post Road Group. "This capital raise is a testament to the Company's execution to date and positions Archtop to accelerate its impact across the Northeast."

"The Archtop platform is a major catalyst for digital transformation on the East Coast. Monroe's Alternative Credit Solutions team is proud to complete another deal with Post Road Group and support the Archtop team," said Kyle Asher, Managing Director and Co-Head, Alternative Credit Solutions of Monroe.

The new capital infusion aligns with Archtop Fiber's long-term vision of expanding its footprint and enhancing its service offerings. As the Company continues to grow, it remains committed to delivering the fastest, most reliable and most environmentally friendly fiber Internet to homes and businesses in overlooked and underserved communities, as well as providing value to its partners and stakeholders. 

Grant Funding and Service Rollouts Fuel Momentum
In addition to private financing, Archtop Fiber is also leveraging public investments to bridge the digital divide. The Company has signed a Memorandum of Understanding with Sullivan County, New York, to extend multi-gig fiber within the county. In November, New York Gov. Kathy Hochul and U.S. Sens. Charles Schumer and Kirsten Gillibrand announced the county would receive $30 million through the ConnectALL Municipal Infrastructure Grant Program, enabling Archtop to further expand broadband infrastructure.

In March, Massachusetts Gov. Maura Healey announced that Archtop Fiber will be among the recipients of $10.4 million in grants to improve Internet access in public and affordable housing, bringing better connectivity opportunities to underserved communities throughout the state.

Archtop Fiber service is now live in six communities, with several more set to come online soon. Archtop's boots on the ground are not only installing cutting-edge fiber technology — they're also engaging with elected representatives, local residents and businesses alike to become a key partner and resource for the public good.

Since early 2024, Archtop has launched service in Kingston, Saugerties, Rhinebeck, Hudson, Warwick, and Woodstock, New York and Vernon, New Jersey. In the coming months, Archtop will light up more markets, including Catskill, Red Hook and Tivoli, New York, and Pittsfield/Berkshires, Massachusetts. Additionally, Archtop is gearing up to soon deliver 5 and 8Gbps Internet speeds for residential customers in its newly developed areas. 

To learn more about Archtop Fiber, visit www.archtopfiber.com.

Houlihan Lokey served as financial advisor to Archtop Fiber. Troutman Pepper Locke served as legal counsel.

About Archtop Fiber
Archtop Fiber offers the fastest, most reliable, environmentally friendly and affordable Internet access to communities across the Northeast. With decades of experience and success, Archtop provides multi-gig, symmetrical, all-fiber Internet solutions that open doors for community growth and prosperity. Archtop's future-forward network and Internet services deliver reliable, lightning-fast access to entertainment, healthcare, employment and education opportunities. From businesses and hospitals to farms and families, Archtop Fiber prioritizes exceptional service and an unwavering community focus to create a brighter, tech-driven future for all.

Media Contact for Archtop Fiber:
Jaymie Scotto & Associates (JSA)
jsa_archtop@jsa.net 

About Post Road Group
Post Road Group is an alternative investment advisory firm that currently manages approximately $2.5 billion across its four distinct, complementary investment strategies which include Corporate (Digital Infrastructure), Real Estate Credit, Real Estate Equity, and Specialty Finance. Since inception in 2015, the firm has committed and invested $3.5 billion of capital on behalf of institutional investors across the world. The firm is based in Stamford, CT. For more information, please visit www.postroadgroup.com/.

About Monroe Capital
Monroe Capital LLC ("Monroe") is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 11 locations throughout the United States, Asia and Australia.

Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Inc.'s 2024 Founder-Friendly Investors List; Global M&A Network as the 2023 Lower Mid-Markets Lender of the Year, U.S.A.; DealCatalyst as the 2022 Best CLO Manager of the Year; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.