Kinetic Ventures invests in RiverStreet to expand high-speed internet access in rural Virginia and North Carolina
Virginia – Leading growth capital firm Kinetic Ventures LLC has invested in RiverStreet Management Services, LLC in what appears to be a major step meant to close the technological divide. Subsidiary of Wilkes Telephone Membership Corporation, RiverStreet is committed to creating fiber networks bringing high-speed internet to underprivileged and unserved rural areas throughout North Carolina and Virginia. This cooperation shows a shared dedication to provide essential connectivity infrastructure for empowering communities.
By investing a minority share in RiverStreet, Kinetic Ventures marks a turning point in its endeavor to assist internet providers that truly enhance their local areas. The investment presents Kinetic with an opportunity to increase its future ownership as RiverStreet speeds up its initiatives to overcome connectivity gaps.
Kinetic Ventures has named Deb Rand, its Managing Director, to RiverStreet’s Board of Directors as a demonstration of even more support. Veteran broadband infrastructure and operational planning specialist Rand shared her excitement about the alliance:
“I am thrilled to join RiverStreet’s board and support its impactful work in building a digital future for rural communities,” said Rand. “RiverStreet’s commitment to expanding fiber networks aligns perfectly with Kinetic’s vision of empowering broadband providers that make a real difference in their communities.”
RiverStreet is no stranger to ambitious goals. The company’s capacity to install premium fiber networks over a large geographic area will be significantly boosted by the amazing $260 million in federal and state funds it has received. Thousands of rural homes and companies are projected to be able to receive dependable high-speed internet—a commodity sometimes taken for granted in metropolitan areas—thanks in part to these funds.
Eric Cramer, President and CEO of RiverStreet, emphasized the importance of this collaboration:
“We are excited to partner with Kinetic Ventures to further our goal of bridging the digital divide,” said Cramer. “With Kinetic’s investment and the support of federal and state grants, we are well-equipped to expand our network, reaching more rural communities with high-quality broadband.”
The partnership comes at a pivotal point since remote work, healthcare services, and education depend on fast internet access more and more. Millions of people in rural areas are deprived of the possibilities that accompany a digital-first society, therefore hindering economic and social development by the absence of consistent broadband.
Working together, Kinetic Ventures and RiverStreet are directly addressing this problem. Their combined resources and knowledge will help many families and companies to change the digital landscape, thus ensuring that rural areas are not left behind.
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The future seems better for communities trying to catch up in the digital era as Kinetic Ventures increases its involvement in the development path of RiverStreet. This investment is more than a business deal—it’s a step toward equity, opportunity, and connectivity for all.
