Finnfund and IDB Invest partner with Netwey to expand internet access in Mexico

Finnfund closed a 5 million US dollar equity investment with Netwey, a Mexican Internet Service Provider, to expand its fiber optic network and improve internet accessibility. This investment aims to bring unlimited high-speed internet to more low-income households, bridging the digital divide.

The investment is part of a 10 million US dollar equity round in collaboration with IDB Invest, a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector.

“We are excited to collaborate with IDB Invest to support Netwey in expanding its provision of high-speed internet to low-income areas in Mexico. At Finnfund, we continue to strengthen our focus on the digital sector and increasing digital accessibility is central in this regard. Moreover, this investment is our first digital sector investment in Latin America and therefore an important milestone,” says Fabian Cisar, Investment Manager, Finnfund.

More than 21 million Mexican households in underserved areas lack adequate internet access, with many in lower socioeconomic tiers. Significant investments have been made in fiber optic infrastructure. However, these investments have been largely concentrated in high-income urban centers, leaving a significant part of the country underserved.

The project aims to broaden Netwey’s fiber optic network, thus enabling more low-income households to access high-speed internet. Broadband services have a transformative impact on the economy and society. An increase in digital connectivity supports economic growth and facilitates inclusive access to critical services in finance, education and health, and provides possibilities for small businesses to connect with global value chains.

The digital infrastructure and solutions sector is one of Finnfund’s key strategic priorities and most rapidly growing sector.

More information
Fabian Cisar, Investment Manager, Finnfund 
fabian.cisar@finnfund.fi, tel. +358 040 353 9811 
 
Media contacts 
Terhi Elomaa, Communications Manager, Finnfund 
terhi.elomaa@finnfund.fi, tel. +358 40 194 0281 

About Mexico

The Mexican economy is the second largest in Latin America and among the most open economies globally. The country has become a major base for companies looking to export to the United States and Canada due to its comparatively lower labour costs and the USMCA free trade agreement it has with its two North American neighbours. In this regard, manufacturing plays a major role in Mexico’s economy, especially in the automotive, electronics, and consumer goods sectors. Moreover, Mexico is rich in natural resources as production of oil and industrial metals have played a critical role in the country’s growth over the past few decades. Key challenges which impact its investment climate include high income inequality and security and corruption risks from cartel activity. The current US administration’s trade policies have also been a source of uncertainty for Mexico in recent months as its economy is deeply integrated with the US, accounting for close to 80 percent of its exports.

  • Type of Government Federal Republic
  • Capital Mexico City
  • Population 130, 301,391
  • GDP per capita (2024) USD 13,972
  • GDP Growth (2024) 1.5%
  • Human Development Index Ranked 77/193 countries

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