WorldLink Communications, Nepal's largest private sector internet service provider (ISP), has received a series B investment of NRs 1.08 billion (about US$8.4 million) from British International Investment (BII), the UK government’s development finance institution and impact investor, and NRs 900 million (US$6.9 million) from Dolma Impact Fund II (DIF II).
Dolma is the largest private equity fund manager focused on Nepal, with over US$100 million currently under management. The sector focus of the Dolma Impact Fund reflects areas of both high commercial growth and strong developmental impact.
This combined investment is described as one of the largest in the internet sector in the country to date. In October 2019, BII invested NRs 1.35 billion (US $12 million) in WorldLink. Total foreign investment in the company has reached NRs 3.33 billion (US$27.2 million).
WorldLink Communications will be using the investment to speed up its internet expansion activities across the country, focusing on rural areas. The capital provided by BII and DIF II will enable WorldLink to provide reliable internet service to more small and medium enterprises and households, supporting the development of enterprises and connecting them with the international market.
WorldLink, which boasts more than 750,000 customers, is one of the biggest employers in the country, with around 5,500 employees. The investment by BII and DIF II will help to create an additional 1,000 jobs in the company and support the provision of skill enhancement training for staff.