Plymouth VC Firm Invests In Kalamazoo Telecom
Plymouth Management Co. announced Monday its third investment from Plymouth Venture Partners Fund II in Lynx Network Group of Kalamazoo.
Lynx Network Group is a full service telecommunications company specializing in advancing high-speed next generation infrastructure in tier 2 and tier 3 markets where traditional infrastructure is not capable of meeting demand.
The company is currently constructing 1,000 miles of fiber optic network infrastructure throughout Michigan for the purposes of connecting businesses, organizations and wireless service providers that demand resilient and ultrafast infrastructure. The fiber optic network project will connect communities throughout the Michigan’s Lower Peninsula. Among the cities slated to be part of the fiber optic network are Monroe, Adrian, Hillsdale, Coldwater, Three Rivers, Benton Harbor, South Haven, Zeeland, Grand Haven, Muskegon, Ludington, Manistee, Beulah, Traverse City, Kalkaska, Charlevoix, Petoskey, Mackinaw City, Gaylord, Grayling, Houghton Lake, Clare, Mt. Pleasant, Midland, Bay City, and Oscoda.
The goal of the project is to provide high-performance, lower-cost, fiber-based communications services (including Internet access) to underserved areas throughout Michigan. Funding for this fiber optic network project will help Lynx Network Group to attract and retain jobs for Michigan-based businesses that require advanced, high-speed communications to remain competitive.
Currently under way, Lynx Network Group estimates that more than half of the project will be complete by year-end, and the full network will be operational in 2012.
Said PMC CE|O Mark Horne: ”The management team at Lynx Network Group brings great vision and a track record of solid execution. PMC’s investment into Lynx will further expand their capabilities and significantly change the landscape of Michigan and its communities. The funding also provides the company with a strong financial foundation to support growth for years to come.”
Gregg Rutgers, founder at Lynx Network Group, said PMC’s fund “has demonstrated a real commitment to Michigan companies; we’re looking forward to adding their team’s exceptional business and industry expertise to our board.”
Plymouth Venture Partners II L.P. is a follow-on fund to Plymouth Venture Partners Fund I. Plymouth Venture Partners I became fully invested in 2009 after completing investments in 29 companies. Plymouth Venture Partners II invests in early expansion stage companies in the Great Lakes region. Plymouth Ventures II is actively looking for great early expansion-stage companies in this region. Visit www.plymouthvc.com for more information. Plymouth Management Co. is the manager for Plymouth Venture Partners I and Plymouth Venture Partners II. The company has four partners: Mark Horne, Ian Bund, Bob Savage, and Jeff Barry, with offices in Ann Arbor, Michigan and Toledo, Ohio.
Founded in 2003 by three Michigan-born telecom industry veterans, Lynx Network Group is a provider of wholesale and retail telecommunication services in the Midwest. As a commercial participant in the REACH 3MC network, Lynx Network Group provides a broad range of end-to-end communications solutions to businesses, CLECs, ILECS, resellers and wireline and wireless carriers. Our network scalability and depth of services is coupled with a service management team that enables businesses to advance. Visit www.lynxnetworkgroup.com for more information.