WorldLink Communications gets $15.3 million investment from BII and DIF II for internet expansion

WorldLink Communications — one of the leading private sector internet service providers in the country — has secured a combined series B investment of $15.3 million from British International Investment (BII), a development finance institution (DFI), and Dolma Impact Fund II (DIF II), a Private Equity (PE) fund managed by Dolma Fund Management (DFM).

Of the total, BII will be investing $8.4 million while DIF II will invest $6.9 million.

The investment in WorldLink shall be used in boosting nationwide broadband expansion projects with an emphasis on rural regions. 

Presently, Worldlink employs around 5,500 people. Owing to the new investment, WorldLink is expected to create additional 1,000 jobs along with training opportunities for the workers to improve their skills, and their health and safety standards.

Earlier, BII had made a $12 billion investment in WorldLink in October 2019. The total foreign investment in WorldLink now reaches $27.3 million, making it the highest for an internet service sector to date. 

Similarly, a while ago DIF II signed a $10 million investment agreement with The Japan International Cooperation Agency (JICA), bringing the fund corpus to $71.96 million. The investment was agreed to be utilized for equity investment in healthcare companies, IT/Digital companies, and renewable energy projects in Nepal.

DIF II already has investments in CloudFactory, Fusemachines, Sastodeal, Upaya City Cargo, and Foodmandu.