Advencap enters agreement to sell its stake in Netomnia
18 February 2026 - Advencap, a global alternative asset manager focused on digital infrastructure, together with its co-investors, DigitalBridge and Soho Square Capital, has entered into a binding agreement to dispose of 100% of their shareholding in Netomnia, a UK-based full fibre operator, to InfraVia, Liberty Global and Telefónica, through their existing joint venture, nexfibre, for an enterprise value of £2bn.
Netomnia was formed through the merger of Netomnia and brsk in 2024, bringing together two complementary fibre platforms to form one of the UK’s largest alternative fibre providers, with more than 3 million fibre premises and approximately 460,000 customers. Advencap invested in Netomnia in 2021 and was a founding shareholder in brsk in 2020. Advencap supported both businesses from the early stages of their development, providing capital alongside strategic and operational support throughout the life of the investments.
The combination of nexfibre, Netomnia and more than 2 million Virgin Media O2 premises, which will be upgraded by nexfibre, will create a scaled, financially secure challenger to BT Openreach, with a full fibre footprint of around 8 million premises by the end of 2027. When combined with the growing fibre footprint of Virgin Media O2, co-owned by Liberty Global and Telefónica, the two networks will collectively reach 20 million premises and give internet service providers a highly attractive wholesale alternative to the incumbent.
The transaction is expected to facilitate continued investment in full fibre infrastructure across the UK and remains subject to customary closing conditions, including regulatory approvals.
Niel Schoeman, Founding Partner at Advencap, commented:
“Having partnered with Netomnia since 2021 and supported brsk as a founding shareholder, we are proud of the growth achieved by both businesses and the strategic rationale that led to their merger in 2024. Netomnia represents the successful combination of two high-quality fibre platforms, and we believe this agreement positions the business well for its next chapter.”
Jeremy Chelot, Group CEO, Netomnia and YouFibre, said:
"This landmark transaction with nexfibre represents the natural evolution of the UK's fibre market. Consolidation has been inevitable, and this deal creates the scaled, sustainable platform needed to drive genuine wholesale competition. Importantly, our retail brand, YouFibre, will remain post-close, ensuring our customers continue to receive the same trusted service they know today, while benefiting from the financial strength and infrastructure scale this combination delivers. This is about building a stronger future for UK fibre."
About Advencap
Advencap is a global alternative asset manager focused on delivering tailored capital solutions to the entrepreneurs and management teams building the next generation of digital infrastructure. The founding partners combine extensive experience as investors and operators, with a proven track record in the digital infrastructure sector. Having worked together for over a decade, they actively support portfolio companies through the provision of capital across the capital structure, alongside strategic and operational guidance tailored to each business’s needs. Advencap’s operations currently span the United Kingdom, Western Europe, Asia Pacific, and Africa.
About Netomnia and YouFibre
Netomnia is a wholesale fibre operator, one of the UK's largest full fibre network. With over 3 million premises serviceable, building an uncompromising, capital efficient fibre network that delivers tomorrow's innovations today. The Netomnia network is where the most powerful internet lives, redefining what’s possible for businesses and communities across the UK.
Founded in 2019, YouFibre is a retail challenger ISP connecting over 100 towns in the UK with ultrafast Full Fibre broadband up to 8000 Mbps. Operating predominantly over the Netomnia network, with approximately 460,000 customers, its service is ultrasmooth, rated 4.6 out of 5 stars on Trustpilot, and its pricing ultra fair, from just £24.99/month with no in contract rises.