ORIX Ventures Announces Growth Capital Commitment to SummitIG

  ORIX Ventures Announces Growth Capital Commitment to SummitIG

  Funding Supports Growth of SummitIG’s State-of-the-Art Dark Fiber Network

Business Wire

WASHINGTON -- March 18, 2014

ORIX Ventures announces the closing of a large term loan with SummitIG, a
custom network solutions and bandwidth infrastructure provider. The funding
comes alongside additional growth equity capital from existing investor
Columbia Capital, an Alexandria, Va.-based venture capital firm. Proceeds from
the transaction will provide growth capital to support the continued expansion
of SummitIG’s state-of-the-art dark fiber network throughout the Mid-Atlantic.

Headquartered in Dulles, Va., SummitIG provides flexible dark fiber
infrastructure, giving data centers, carriers and enterprises more control
over network solutions and connectivity costs. Through its low-latency dark
fiber solutions, SummitIG is adding fiber infrastructure in the region to
support growing demand for broadband and cloud services. This funding
highlights ORIX Ventures’ ability to provide significant and flexible capital
to high-growth businesses.

“SummitIG is rapidly becoming a leader in supplying markets in Virginia with
scalable bandwidth infrastructure,” stated Bill Cook, SummitIG CEO. “We are
fortunate to have the financial support of ORIX Ventures and Columbia Capital,
which will support the company’s growing network and its ability to offer
customers robust connectivity solutions.”

“With the explosion of bandwidth needs driven by cloud and video, we
immediately saw the value of what SummitIG and Columbia Capital are building,”
Jeff Bede, Managing Director in ORIX Ventures’ Washington, D.C., office,
commented. “The demand for dedicated connectivity at scale continues to grow,
and we believe SummitIG’s dark fiber network is a unique asset. We have a lot
of confidence in the SummitIG team, and this funding further deepens our
relationship with Columbia Capital, an expert in this space.”

About ORIX Ventures

ORIX Ventures provides customized financial solutions to mid- and late-stage
growth companies with established customers and run-rate revenues of $10
million or greater. ORIX Ventures is capable of leading debt or private equity
transactions with total commitments as high as $50 million. Since its
inception in 2001, ORIX Ventures has invested more than $1 billion across more
than 100 growth companies throughout the U.S. and Canada. For more information
on ORIX Ventures, visit us at www.orixventures.com.

ORIX Ventures is a subsidiary of ORIX USA, a Dallas-based financial
conglomerate with more than 1,400 employees and principal offices in Atlanta,
Chicago, Los Angeles, Minneapolis, New York, San Francisco, Washington, D.C.,
Frankfurt, London and Paris. ORIX USA holds approximately $5 billion of assets
and manages an additional $30 billion. ORIX USA is a wholly owned subsidiary
of ORIX Corporation, a Tokyo-based, publicly owned international financial
services company with operations in 34 countries and regions worldwide. ORIX
Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX).
For more information on ORIX USA, visit www.orix.com.

About SummitIG

Based in northern Virginia, SummitIG is a custom network solutions and
bandwidth infrastructure provider. Specializing in dark fiber networks that
support and extend data centers’ connectivity, SummitIG makes it possible for
hosting companies to provide greater value for customers. With SummitIG’s dark
fiber offering, data center operators can offer customers space, power, and
connectivity beyond their own building to multiple points along SummitIG’s
network.

From facilities run by the data center operators to carrier neutral
facilities, and long haul carrier POPs, SummitIG provides infrastructure at
any customer’s point of need.

SummitIG is privately held. For more information about SummitIG, visit the
company’s web page at www.summitig.com.

Contact:

For ORIX USA Corporation:
Couzens Communications
Shannon Couzens, 972-365-3557
shannon@couzenscomm.com
 
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