Growth equity firm Arenova Capital has committed to invest $50 million of equity capital into Aspire Fiber, a Southern California-based internet service provider, to drive Aspire’s network expansion.

Aspire Fiber provides next-generation 10 Gbps fiber-to-the-home internet to consumers throughout Southern California and beyond.

As part of the majority investment, Aspire Fiber’s CEO Stephen Weatherford and its management team remain as significant shareholders and will continue leading the business going forward.

“We’re incredibly excited to partner with Stephen and the Aspire Fiber team at this important inflection point,” David Li, managing partner of Arenova, said in a statement. “Although Aspire is still early in its lifecycle, Stephen and his team are extremely experienced in the fiber sector and we are highly aligned with Aspire’s mission of bringing next-generation fiber service to Californian consumers who currently lack access to symmetrical fiber-to-the-home internet.”

“We believe Southern California represents a highly compelling opportunity for long-term fiber investment, and we look forward to supporting the Company’s continued growth,” Li added.

Aspire Fiber launched service in Moorpark, California, late last year and is undergoing active construction in the remainder of Moorpark and nearby Santa Clarita. With the additional backing, Aspire said it is actively evaluating and in discussions with additional expansion markets throughout California.

“This partnership with Arenova marks a significant milestone for our company,” said Weatherford. “We share a long-term vision for building high-quality, community-focused fiber internet infrastructure across California. With Arenova’s strategic capital and deep domain expertise in fiber investing, we are well-positioned to accelerate our expansion while maintaining disciplined execution and operational excellence.”

Aspire Fiber’s strategy concentrates on partnering with municipalities and local stakeholders to expand access to advanced broadband connectivity and support regional economic development. Aspire said its next-generation 10 Gbps fiber-to-the-home network, built primarily underground, improves resiliency, future-proof reliability, and community integration.

Don’t miss what’s next. Subscribe to Dallas Innovates.

Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.